The job market in India has seen significant layoffs across various industries since January 2024. Here's a compilation of Indian companies that have downsized their workforce:
- Simpl, a buy now pay later platform, reduced its staff by around 160-170 employees in May 2024, affecting approximately 25% of its workforce.
- Ola, a ride-hailing company, cut nearly 10% of its employees in April 2024, impacting 200 workers, with the aim of enhancing profitability.
- Additionally, Ola's CEO, Hemant Bakshi, resigned just three months after assuming the position.
- Byju’s, facing financial constraints, laid off 500 employees in April 2024, representing 3% of its total workforce, mainly in sales, marketing, and teaching roles.
- Swiggy, an online food delivery platform, terminated approximately 400 jobs in January 2024 to address financial challenges.
- Flipkart, owned by Walmart, downsized its workforce by 5-7%, letting go of 1,100-1,500 employees in January 2024, while also pausing fresh hiring to manage costs.
- Good Glam Group, a content-to-commerce platform, cut 150 jobs, about 15% of its workforce, in April 2024 as part of an organizational restructuring.
- Several other companies across various sectors, including ed-tech, fintech, health, and fitness, such as PrepLadder, Scaler, Wint Health, Lentra, Muvin, HealthifyMe, Pristyn Care, Cult.fit, Cure-fit, Bolt.Earth, CoRover, Airmeet, WayCool, Licious, and BlissClub, also implemented job cuts in 2024.
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