Startups look at pruning costs to stay in shape

28 April 2022, Mumbai:

Startups shed flab as large funding rounds lose stream.

Cos focus on profit, reducing costs.

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Startups are looking to prune costs amid the tightening of larger-sized funding rounds. They are doing that by shedding staff.

Handing out pink slips

Mostly late-stage startups that are highly valued & have significant cash burn laying off staff.

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There is a slowdown in large financing rounds of $100-150$ m.

More than 1800 full-time, contractual employees fired in last few weeks; more jobs cut ahead 

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CREDITS: ET Dt 28-04-2022 (The news article has not been edited by DFU Publications staff)