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<ul><li>Indian startup sector witnesses a rise in job losses, with over 27,000 tech employees affected and numbers increasing.</li><li>Nearly 26,868 employees have been handed over pink slips by 98 startups.</li><li>At least 22 <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startups have slashed 9,781 jobs to date.</li></ul>At least 27,000 tech employees at Indian startups have lost their jobs since the funding winter crept in last year, and the list is only growing. Nearly 26,868 employees have been handed over pink slips by 98 startups, including unicorns led by the edtech majors, according to data by leading startup news portal Inc42. At least 22 edtech startups have slashed 9,781 jobs to date. In the first five months into 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups. Homegrown virtual events platform Airmeet sacked about 30 per cent of its workforce, or at least 75 employees, according to the report. Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, slashed nearly 35 per cent of its workforce as part of a restructuring exercise. Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking about 45 workers more than five months ago. <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword>-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> amid global macroeconomic conditions. The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees -- from Big Tech firms to startups -- have been sacked to date globally, as companies like <keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, BT, <keyword id="15492" type="General" weightage="50" keywordseo="vodafone" source="Orion">Vodafone</keyword> and many others announced further plans to lay off more employees in coming months. As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

About 27K employees lost jobs at Indian startups to date, over 8K this year

<ul><li>BYJU's is an <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> platform founded in 2015 with a current valuation of $22 billion. </li><li>Management of the edtech platform says cost-cutting is being done to “achieve overall profitability by March 2023”. </li><li>Many edtech firms have resorted to layoffs this year. </li></ul>Indian edtech decacorn BYJU's announced yesterday that it has laid off 2,500 employees as it has consolidated the many platforms it has acquired – like Toppr, Meritnation, <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword>, Scholar and HashLearn. This move, the company said, is a way to avoid redundancies in job roles and the layoffs constitute 5% of its workforce. “These measures will help us achieve profitability in the defined time frame of March 2023," said Mrinal Mohit, CEO, BYJU'S India business. As per the audited FY21 financials that it released last month after an 18-month delay, its losses widened by 20 times to ₹4,589 crore. In the last three years, the company has been on an acquisition spree. Its biggest one so far is that of offline test preparatory services provider Aakash for $1 billion in 2021. The payments to PE major Blackstone, which owned 38% in Aakash, were eventually <a href="https://www.thehindu.com/business/byjus-clears-230-million-dues-to-blackstone-for-aakash-acquisition/article65931486.ece">cleared by the company, albeit after delays</a>. It has also purchased Singapore-based <keyword id="6559242" type="General" weightage="50" keywordseo="great-learning" source="Orion">Great Learning</keyword> for $600 million in 2021. Both these entities will function independently, <keyword id="3320944" type="General" weightage="100" keywordseo="byjus" source="Orion">Byjus</keyword> had said. Edtechs in trouble This year, many edtech companies have been suffering from loss of clientele after offline classes have commenced and screen fatigue. Since July this year, many edtech companies like Unacademy and Vedantu have been laying off <a href="https://www.businessinsider.in/business/startups/news/60000-jobs-in-startup-companies-may-lose-their-jobs-this-year-in-india-experts-say/amp_articleshow/91804572.cms">employees</a>. Byju’s which has by then also made its presence felt in offline coaching, is also known to have gone down the same path. As per reports, <a href="https://www.business-standard.com/article/companies/byju-s-owned-whitehat-jr-lays-off-300-employees-in-latest-round-of-job-cuts-122062900323_1.html">WhiteHat Jr, owned by Byju's</a>, laid off around 300 employees in June from the code-teaching and sales teams. However, various <a href="https://www.news18.com/news/business/byjus-lays-off-over-2500-employees-in-toppr-and-whitehat-jr-to-cut-costs-5463853.html">media reports have pegged the layoff </a>number between 1,500-2,500. The company vehemently denied the numbers, but did admit to retrenchments. “To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams across our group companies. This entire exercise involves less than 500 employees from across Byju's group companies,” the company spokesperson said after denying the 2,500 layoff number. In good shape says management The edtech giant, which is valued at around $22 billion and is the first edtech unicorn in India has also been under scrutiny for various reasons. The company management however insists that it is in good shape. <keyword id="5563078" type="General" weightage="50" keywordseo="divya-gokulnath" source="Orion">Divya Gokulnath</keyword>, the company’s co-founder also came out in defense of the company saying that a lot has happened since its FY21 results and its widened losses have already been cut by half in FY22. “It’s easy to forget that we are 18 months post FY21, and that BYJU’S has grown more than 4 times in this span,” she wrote in an open letter on LinkedIn. For this year, the company has set a target to achieve $2 billion in revenues. The company founder has stated time <a href="https://www.business-standard.com/article/companies/byju-s-focusing-on-profitable-growth-2-bn-revenue-within-the-sights-ceo-122092001266_1.html">and again that this</a> “revenue within sight”. On the other end of the spectrum, <a href="https://www.bbc.com/news/world-asia-india-58951449">Byju’s users have been complaining </a>about aggressive sales tactics and its effects on learning abilities. Moreover, a few of its employees too <a href="https://twitter.com/malpani/status/1379826997598121987?lang=en">publicly spoke of its</a> high-pressure tactics and practices that’s turned almost exploitative to Indian parents who place a lot of value on their children’s education. SEE ALSO: <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/investments-in-real-estate-touched-3-6-billion-in-jan-sep-period-colliers/articleshow/94833113.cms">Investments in real estate touched $3.6 billion in Jan-Sep period: Colliers</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/elon-musk-jokes-he-is-selling-perfumes-to-fund-twitter-acquisition/articleshow/94832660.cms">Elon Musk jokes he is selling ‘Burnt Hair’ perfumes to fund Twitter acquisition, changes bio to “Perfume Salesman” as sales cross 20,000</a>

The many troubles at BYJU’s that goes beyond the recent layoffs

<ul><li>The edtech company will be <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword> 800 people across tech, product and marketing teams this year.</li><li>It claims that out of 800 people, 20% or 160 would be freshers and college graduates.</li><li>In the coming months, it will also be recruiting a CXO, vice president, and a senior vice president both for India and the US.</li></ul>Bengaluru-based edtech <keyword id="1309724" type="General" weightage="20" keywordseo="simplilearn" source="Orion">Simplilearn</keyword> is expanding its workforce by 800 people this year. It will be hiring across tech, product and marketing teams. “The ongoing hiring is a part of our company's expansion plan, in India and abroad, as we look to substantially invest in our workforce by the end of 2022," said Krishna Kumar, founder and CEO of Simplilearn. It claims that 20% of its hiring or 160 employees would be freshers and college graduates. In the coming months, it will also be recruiting a CXO, vice president, and a senior vice president both for India and the US. In the US, it aims to appoint various C-suite level executives who will assist in strengthening and structuring the team present in the country. Kumar believes that the demand for upskilling and reskilling will prevail in the industry. “Over the past couple of years, the shift to online training and education led to a growth spurt in the number of providers in the industry. The industry is currently witnessing a transition phase with hybrid models of work and study,” he added. Founded in 2010, the company claims to conduct more than 3,000 live classes, with an average of 70,000 learners who collectively spend more than 500,000 hours each month on the platform. Its peers like Unacademy, Vedantu are laying off its workforce due to lower funding. Overall, the edtech industry has reportedly laid off 8,000 people due to economic slowdown. While, Indian startups have collectively laid off 6,000 people in the last five months and <a href="https://www.businessinsider.in/business/startups/news/60000-jobs-in-startup-companies-may-lose-their-jobs-this-year-in-india-experts-say/articleshow/91804572.cms">may lay off another</a> 60,000 this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/careers/news/not-just-money-lack-of-flexi-working-is-making-software-developers-quit/articleshow/92179884.cms">Not just money, lack of flexi working is making software developers quit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/nearly-four-lakh-fliers-are-thronging-airports-every-day-and-indigo-is-flying-half-of-them/articleshow/92179593.cms">Nearly four lakh fliers are thronging airports every day and Indigo is flying half of them</a>

Edtech startup Simplilearn bucks the trend — to hire 800 people this year

<ul><li>The <keyword id="291131" type="General" weightage="20" keywordseo="aws" source="Orion">AWS</keyword> Public Sector Symposium talked about cloud computing in public sectors</li><li>It featured important announcements including collaboration with <keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword></li><li>AWS has also partnered with CCMB</li></ul> Amazon Web Services Public Sector Symposium 2023 that took place in September saw a series of announcements by the Cloud computing behemoth. One of the largest service providers in the world, AWS has been actively collaborating in the public sector space in India. The event last month reiterated the established partnerships along with a string of new announcements. But before that let’s understand what is cloud computing? Cloud Computing for laymen Imagine enjoying the benefits of having a high end personal computer that can handle Terabytes of data in seconds. Now make it intangible, and completely based on a server network. That essentially is cloud computing. It is the practice of using a network of remote servers hosted on the internet to store, manage, and process data, rather than a local server or a personal computer. Amazon Web Services does just that, but on a massive scale, hence the collaborations we are seeing in the public sector. AWS &amp; ISRO AWS has announced a collaboration with ISRO and Indian National Space Promotion and Authorization Center (IN-SPACe) to accelerate India’s space-tech growth. The collaboration will see space start-ups get access to new age cloud computing services. The organizations will work together to train students in AI, ML, analytics and security. AWS &amp; Center for Cellular and Molecular Biology CCMB is also using AWS cloud computing services to manage its work. The core focus of this collaboration is to accelerate the growth of genome sequencing research projects. According to reports the progress is significant with the reduction of research analysis by 98%. AWS &amp; AI In a collaboration with ConveGenius AWS has also developed a chatbot dubbed the SwiftChat. It is a conversational artificial intelligence (AI) chatbot platform for government schools and low-free private schools built on AWS. We will be coming out with a video with it very soon.

Amazon Web Services Public Sector Symposium 2023 - Cloud Computing For the Future

<keyword id="15403441" type="General" weightage="100" keywordseo="eight-times-eight" source="Orion">Eight Times Eight</keyword>, founded in 2020 by six college students who are international-level chess players, raised $5 million in pre-seed funding on September 19, 2022. The funding will be used to accelerate product development, scale operations sales, and hire new team members. Also, the funds will be used to develop the Learning Management System and strengthen the technology stack. Eight Times Eight aims to open physical centres in a calculated move to switch to hybrid mode with the same. The start-up currently provides live, interactive chess classes to students in 20+ countries. They will also be launching <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s first-ever chess kit, which consists of a beautifully designed chess board, a chess workbook, and animated chess videos that will make learning the game fun and exciting. The syllabus for the Eight Times Eight workbook has been curated by their ambassador, Grand Master <keyword id="151034" type="General" weightage="50" keywordseo="sl-narayanan" source="Orion">SL Narayanan</keyword>, a former India No. 4, Commonwealth Silver medallist, and a member of the Indian Olympiad Chess Team. Eight Times Eight is on a mission to popularise chess among children and, thereby, advance their life skills with the game. Chess has an intellectual image in front of people, and there is a myth that only smart people play chess. Eight Times Eight wants to debunk this myth and prove otherwise. Chess is not just a game, but a key life skill and has the potential to silently transform the lives of individuals. It can create champions both on and off the board. The funds we have received will certainly feed into our dream of popularising chess. We are building a community throughout the world and the domain expertise that we have in this field will surely be beneficial, "said <keyword id="922920" type="General" weightage="50" keywordseo="abhijith" source="Orion">Abhijith</keyword>, who is the CEO of Eight Times Eight. All the co-founders of Eight Times Eight have represented India at global events. The co-founders began working on a full-time basis in September 2021. This story has been provided by <keyword id="2297398" type="General" weightage="50" keywordseo="srv" source="Orion">SRV</keyword>. will not be responsible in any way for the content in this article. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gold-demand-went-up-by-14-in-q3-world-gold-council/articleshow/95221869.cms">Gold demand went up by 14% in Q3: World Gold Council</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">Amid risks of a slowdown, these IT companies are best placed to survive the storm</a>

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About 27K employees lost jobs at Indian startups to date, over 8K this year

IANS

The many troubles at BYJU’s that goes beyond the recent layoffs

Eetika Kapoor

Edtech startup Simplilearn bucks the trend — to hire 800 people this year

Vaamanaa Sethi

Amazon Web Services Public Sector Symposium 2023 - Cloud Computing For the Future

Dhruv Mohan

Eight Times Eight, a Kerala-based edtech startup raises $5 million in pre-seed funding

ANI

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