NEW DELHI: As VC money disappears amid economic slowdown, tech startups have laid off over 20,000 employees the world over since April, while more than 8,000 employees have lost jobs at the Indian start-ups led by edtech platforms.
According to aggregator Layoffs.fyi, at least 20,514 people have lost their jobs at tech startups globally since April globally and the US is leading the race.
The number doubled over the past two weeks, indicating that the labour market for the sector has taken a turn for the worse, reports Nikkei Asia. Ironically, this figure does not take contractual workers into accounts which have lost their jobs in the start-up funding winter.
The job loss has reached two-year high among the start-up ecosystem that once churned out unicorns after unicorns.
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