Zoho, LeadSquared and other startups continue to hire amid industry layoffs
Jul 22, 2022, 16:50 IST
- Indian startups have already laid off a little over 11,000 employees in the first six months of 2022.
- It could get even worse in the near future as experts expect Indian startups to layoff close to 60,000.
- Both low-funded and highly-funded startups have been impacted by this, and would be in the future too.
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The prospects of a long funding winter has pushed several Indian startups to fire a significant chunk of their employees. However, amid the gloom there are some outliers who continue to hire employees even as they maneuver through the economic challenges.Sridhar Vembu-led software-as-a-service (SaaS) company Zoho Corp plans to hire 2,000 employees in India and abroad this fiscal, as it plans to further scale its operations. Even TaCa Healthcare is continuing its hiring to strengthen its existing business and expand to new geographical locations.
The same stands true for other startups hiring amidst the chaos.
Indian startups have already laid off a little over 11,000 employees in the first six months of 2022 as the flow of capital is expected to remain constricted for the next 18-24 months. It could get even worse in the near future. Archit Garg, co-founder at Glamyo Health, pegs startup layoffs at 60,000.
Both low-funded and highly-funded startups have been impacted by this, and would be in the future too. Yogita Tulsiani, the managing director and co-founder of global tech-recruiter iXceed Solutions, noted that most companies hired aggressively during the start of the pandemic and are unable to handle it now.
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| Startups | Hiring | Verticals | Timeline |
| Zoho | 2,000 | Software developers, quality assessment engineers, web developers, designers, product marketers, writers, technical support engineers and sales executives | FY2023 |
| Vivifi | 1,000 | Multiple verticals | FY2023 |
| VDO.AI | 100+ | Tech, sales, operations, finance and strategy | September 2022 |
| iThink Logistics | 120+ | Tech, marketing, sales in different locations like Mumbai, Surat, Jaipur, Delhi, Bangalore | FY2023 |
| Faircent | 200-250 | Technology and data analysts, predictive analytics, data mining technologies | 3-6 months |
| Collabera Technologies | 600-800 | BFSI, retail, life sciences and healthcare and Hi-Tech Industry | 4-6 week |
| TaCas | 400 | N/A | 6 months |
| LeadSquared | 800 | Sales and marketing, finance, product, engineering, delivery, and support functions | 8 months |
| MBA Chai Wala | 500 | Baristas, restaurant staff | 6 months |
| Utkarsh | 500 | N/A | FY2023 |
| HappyLocate | 600 | Sales, HR, accounts, operations, marketing and tech. | FY2023 |
| Sequretek | 500 | N/A | FY2023 |
Piyush Bhartiya, co-founder and CEO of AdmitKard — an end-to-end career advisory for students studying abroad — earlier in May highlighted that for every company that is laying off employees there are 100 others who are hiring.
“Like I said, some companies are laying off, others like ours are hiring. I do not see that will impact the employment ratios too dramatically,” he added.
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