Though it may seem that all is well with the startups in India, the ground reality is perhaps very different. According to a survey by Growth Enabler, at least 3270 employees have lost their jobs in 20 start-ups, and all of this over a span of just six months. This accounts for as much as 18% of the employee base of these firms.
According to a report published in Economic Times, the study analysed layoffs at these 20 companies, each of which had at least 100 employees, one round of external funding and 6 months of operations.
According to the Economic Times report, “This is part of the startup maturity cycle that will eventually make these companies and the entire startup ecosystem stronger,” said Rajeev Banduni, CEO, GrowthEnabler.