Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

<ul><li>The revised business forecast and expected margins have forced companies to redraw their business plans and align their cost structures. </li><li>The <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> that are happening in cohorts, are mostly to restructure the workforce according to changing business objectives. </li><li>Basic IT roles, new initiatives roles, and anything else that automation/semi-automation can take over are at risk. </li></ul>Layoffs are in the news. The reasons are many but <keyword id="604702" type="General" weightage="20" keywordseo="employee-performance" source="Orion">employee performance</keyword>. And that is the definition of layoff too —- the <a href="https://dictionary.cambridge.org/dictionary/english/act">act</a> of <a href="https://dictionary.cambridge.org/dictionary/english/ending">ending</a> a worker's <a href="https://dictionary.cambridge.org/dictionary/english/job">job</a>, sometimes <a href="https://dictionary.cambridge.org/dictionary/english/temporarily">temporarily</a>, usually because there is not enough <a href="https://dictionary.cambridge.org/dictionary/english/work">work</a> to do. Start-ups that raised capital during the go-go days of the pandemic, are now waking up to a different reality, where the next round of capital will be scarce and the business case is looking tougher, which is why these companies have led the layoffs in India. Since layoffs are not necessarily about the performance of employees, Business India spoke to a variety of human resource experts to understand what segments are at risk. Oftentimes, companies permanently discharge workers because of economic conditions or shortage of work. In such a situation, someone is laid off not necessarily based on one’s performance but because the role is not relevant any more. Here’s what we found: <cmsannotation type="cmsannotation" annotationid="Core functions are least at risk" comment="subhead2" text="Core functions are least at risk">Core functions are least at risk</cmsannotation> As unfortunate as it may be, but the first to get axed are the support functions. Revenue-generating functions are relatively safe from such mass layoffs. “During all slowdowns, companies prioritize retaining employees who are essential to their core operations and revenue-generating activities. However, we have seen new trends during certain slowdowns, such as the Covid-19 pandemic, where certain industries and job roles may be more vulnerable due to factors such as reduced demand, temporary closures, or shifts in consumer behaviour,” says Sanjay Shetty, director, professional search &amp; selection, and strategic accounts, Randstad India, a HR consulting firm. On the other hand, he adds that currently, the layoffs which are happening in cohorts, are mostly to restructure the workforce according to the changing business objectives. <cmsannotation type="cmsannotation" annotationid="A changing reality" comment="subhead2" text="A changing reality">A changing reality</cmsannotation> “High inflation has put a significant strain on margins. We have seen Q2 and Q3 results in India where revenues were in line with market expectations but margins were lower. As companies finalize their FY24 plans, every cost item is scrutinized, and any excess is identified and trimmed,” says Mayur Taday, chief business officer, TeamLease Services, an HR firm. During Covid, most companies focused on strategy for the post-Covid world, including digitalisation and forecasting demand based on specific themes. In accordance with the demand forecast, they constructed organizational structures and costs. IT companies, in particular, have been recruiting with the expectations of better days, which have not come about. Several assumptions were not validated due to geopolitical factors, disruptions in the supply chain, and unpredictability of consumer behaviour. Following Covid, the demand-supply situation forced higher-cost hiring. “The revised business forecast and expected margins have forced companies to redraw their business plans and align their cost structures,” adds Taday. Experts agree that you are more likely to be laid off if you are in one of the following roles. Anything that automation can take over: “The likes of ChatGPT will take away <keyword id="11018" type="General" weightage="80" keywordseo="jobs" source="Orion">jobs</keyword> that demand significantly fewer variations besides being repetitive like coding, data entry etc,” says Rishi Patil, founder and director, Executive 81, a recruitment firm. So basic jobs which do not require any social or emotional intelligence are likely to be redundant. New initiative roles: “New initiatives roles are among the few types of specific job roles that are most at risk during layoffs,” says Shetty. During a good phase companies have expansion plans and recruit people for that purpose. During lean times, such jobs are at a threat of being terminated unless the company is making a specific effort to pivot into these new areas. Overpaid hiring: The demand supply situation is now tilted in the favour of supply. “All such hirings that were overpaid as a result of the then-prevailing overheated demand situation are being scrutinized,” says Taday. So, those being paid significantly above market rates, have a higher chance of losing their job. Contractual workers: According to a report by recruitment firm Spectrum Talent Management, 50% of Indian first were hiring contract employees amidst mass layoffs, since they were trying to avoid increasing their fixed costs. “Contractual workers in some cases might also feel the heat during downsizing due to the seasonal nature of their jobs,” says Shetty. Since these employment terms are for a certain period, the company may not renew it when the requirement is over. <cmsannotation type="cmsannotation" annotationid="Hiring to continue" comment="subhead2" text="Hiring to continue">Hiring to continue</cmsannotation> “We must understand that while organizations have, in some cases, adopted a strategic layoff approach, they are also hiring at a fairly reasonable pace. We expect companies in the IT, telecommunications, and services sectors to continue hiring due to increased digitization, 5G expansion, and a rebound in service sectors to pre-Covid levels of growth,” says Shetty. According to an internal survey by Randstad India, seven out of ten tech companies plan to increase their headcount in the next couple of months, suggesting that hiring in the Indian IT sector is likely to pick up as well. “Compared to the previous year, they expect a 25-30% increase in demand for tech talent in non-tech industries in 2023, driven over by the continued digitization of operations as these industries strive for greater scalability,” says Shetty. Says Saumitra Chand, career expert at Indeed, a job search portal, “We are seeing an increase in demand for talents in non-tech sectors such as healthcare, food services, construction and education. Even sectors like marketing, which was one of the earliest to see layoffs during the pandemic, has picked up steam.” To sum up, everything in the job space is evolving at a rapid pace. If one is not relevant to the new paradigm, their job is at risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mfs-add-shares-of-indigo-paytm-pvr-nazara-technologies-among-others-in-february/articleshow/98630434.cms">MFs add shares of Indigo, Paytm, PVR &amp; Nazara Technologies among others in February</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sonys-new-camera-allows-visually-impaired-to-enjoy-photography-to-the-fullest/articleshow/98628614.cms">Sony’s new camera allows visually impaired to enjoy photography to the fullest</a>

Is your job at risk? If you're working in any of these roles then you need to be worried

<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>Building an <keyword id="163208" type="General" weightage="20" keywordseo="emergency-fund" source="Orion">emergency fund</keyword> of 6-12 months of expenses is crucial as <keyword id="6357067" type="General" weightage="20" keywordseo="layoffs" source="Orion">layoffs</keyword> become common. </li><li>Once the goal of 50% of emergency funds is achieved, one should start investing for the long term. </li><li>It is important to take health and term insurance to protect oneself against any eventuality. </li></ul>Bangalore based software engineer Soham Chatterjee, 24, started his career with a startup last year. He gets a salary of ₹50,000, and since he had to relocate and has to pay rent, he has to look closely at his expenses. Chatterjee and many others of his age, may have to deal with another grim possibility. 2023 has been in news because of layoffs and the situation in 2024 could also be similar. However, the layoffs may be more sector specific. “The likelihood of layoffs in India in 2024 is unlikely except for specific sectors being affected. Over 35,000 people have lost their <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> at Indian startups in the last two years. Job cuts might be expected to continue in the startup space into 2024 in the pursuit of profitability,” says Kartik Narayan, CEO of Staffing Firm, TeamLease Services, a staffing solutions firm. “The driving factors behind these anticipated layoffs include the need to reduce costs, the anticipation of an upcoming recession, the desire to increase profits, and the integration of AI, which is replacing some job functions,” he adds. According to a spokesperson of Adecco, a provider of human resource solutions, while some tech and <keyword id="44477" type="General" weightage="20" keywordseo="financial" source="Orion">financial</keyword> sectors may still adjust, overall expectations are much calmer. Some tech sub-sectors like venture-backed startups and non-essential financial services like wealth management might see targeted layoffs. In such a situation, it is important to have one’s financial house in order, especially for the <keyword id="4550079" type="General" weightage="20" keywordseo="genz" source="Orion">GenZ</keyword> who are most likely in their first jobs and have never seen layoffs before. Building an emergency fund As the same suggests, an emergency fund comes in handy during an emergency, like a job loss. GenZ folks would not have home loan EMIs or expenses related to kid’s education, but they would have student loans or loans on gadgets. An emergency fund will help one tide over such expenses. The thumb rule is to build an emergency fund of six months’s monthly expenses. “Before Covid we were looking at six months of your expenses as an emergency fund, now we are looking at 12 months,” says B. Srinivasan, director and founder, Shree Sidvin Investment Advisors. Even if they have taken a phone on EMI, that should be included in one’s expenses. “So the rule is to divide the salary into one third and two-thirds. One third of income should be compulsorily saved and it should go towards building an emergency fund, it should not go towards long term savings. Till 50% of the corpus is achieved, one should not do any long term investments,” says Srinivasan. Also, 50% of any incentives or bonus they might be getting should be earmarked for emergency funds. Where to park your emergency funds: One may keep the emergency funds in their savings account. However, it is recommended to park it in liquid funds for a slightly higher return. Srinivasan suggests that one keeps two months of one’s expenses in a savings bank account and post that invest it in conservative hybrid mutual funds which invests primarily in FD like instruments, with some exposure to stocks. Starting investments Financial planners generally advise that once the goal of 50% of emergency funds is achieved, one should divide the one third of income into two parts. One should go towards emergency funds and the rest should be invested. “Start mutual fund sips for your goals. Investing directly in stocks or trading is absolutely fine but always have your goals sorted with mutual funds or index funds,” says Ananth Ladha, founder, Invest Aaj for Kal, a financial planning firm. Getting insured Getting insured is also a requirement of the times. The employer would provide health insurance coverage, but that will not be there in case of a job loss. “Take term and health insurance in time. Term plan is needed only up to 60-65 years, buying a whole life policy won’t make sense in financial terms,” says Ananth Ladha. A term plan would be available at a very reasonable premium at this age. We live in uncertain times and layoffs are not going to go away. However, maintaining financial discipline is important to be prepared for a rainy day.

GenZ and finance: Layoffs to continue in 2024 – Here’s how to be financially prepared

<ul><li><keyword id="7716660" type="General" weightage="100" keywordseo="pristyn-care" source="Orion">Pristyn Care</keyword>, a Gurugram-based health-tech startup, has reportedly laid off 300 employees.</li><li>The company has recently fired 45 employees, citing underperformance.</li><li>Pristyn Care is backed by investors such as <keyword id="122716" type="General" weightage="50" keywordseo="sequoia-capital" source="Orion">Sequoia Capital</keyword> and <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>.</li></ul>Gurugram-based health-tech startup Pristyn Care is the latest to join the list of companies laying off its workforce. In its latest round of layoffs, the company has fired 45 employees. The layoff wave has been arriving in ripples across the Indian companies after affecting thousands in the global market, including big names like <a href="https://www.businessinsider.in/tech/news/elon-musks-twitter-laid-off-more-than-90-of-staff-in-india-now-only-about-12-employees-remain-report-says/articleshow/95383606.cms">Twitter</a>, <a href="https://www.businessinsider.in/tech/news/meta-says-it-will-lay-off-more-than-11000-employees/articleshow/95405068.cms">Meta</a>, among many others. According to a<a href="https://inc42.com/buzz/exclusive-healthtech-unicorn-pristyn-care-trims-workforce-gst-officials-seek-clarity-on-biz-model/"> report</a> by Inc42, the Sequoia Capital and Tiger Global-backed health-tech firm has fired around 300 employees across departments in the last two months. <cmsannotation type="cmsannotation" annotationid="What does Pristyn Care do?" comment="subhead" text="What does Pristyn Care do?">What does Pristyn Care do?</cmsannotation> Pristyn Care is a health-tech company founded in 2018 by Dr <keyword id="345234" type="General" weightage="50" keywordseo="vaibhav-kapoor" source="Orion">Vaibhav Kapoor</keyword>, Dr <keyword id="12305824" type="General" weightage="50" keywordseo="garima-sawhney" source="Orion">Garima Sawhney</keyword>, and <keyword id="11127890" type="General" weightage="50" keywordseo="harsimarbir-singh" source="Orion">Harsimarbir Singh</keyword> that offers advanced secondary care surgeries across 800 hospitals, 200 clinics, and over 400 super-specialty surgeons. The company has so far <a href="https://www.businessinsider.in/business/startups/news/surgical-care-startup-pristyn-care-is-the-42-startup-to-be-valued-over-1-billion/articleshow/88157965.cms">raised</a> $177 million from Sequoia Capital, Tiger Global, Winter Capital and others. <cmsannotation type="cmsannotation" annotationid="15% of employees laid off" comment="subhead" text="15% of employees laid off">15% of employees laid off</cmsannotation> The fired employees make up around 15% of the company’s total workforce. The fired employees were junior and mid-level employees working in sales, administration, city teams, and others. The company has claimed that it has fired only 45 employees, and they were let-go due to underperformance. "We have a comprehensive performance evaluation process that helps us understand the efficiency levels across the board. This is a regular process and we found around 45 employees across the organization who were performing consistently below expectations and we had to part ways," a Pristyn Care spokesperson told Inc42. The company has, however, denied claims about a mass layoff and has claimed that it has hired over 300 employees in the last four months. The layoffs come at a time when the company is<a href="https://yourstory.com/2023/03/sequoia-backed-pristyn-care-lays-off-300-employees-shuts-medical-tourism-vertical"> reportedly</a> scaling down its international expansion segment focused on medical tourism. The segment reportedly failed to generate sufficient revenue. Pristyn Care is not the only healthcare startup that has laid off employees. Companies like PharmEasy, MediBuddy, and Innovaccer have recently announced layoffs. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a>

You Searched For "layoffs by Indian startup" and got 5 results

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

Divyanshi Sharma

Is your job at risk? If you're working in any of these roles then you need to be worried

Anagh Pal

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

Eetika Kapoor

GenZ and finance: Layoffs to continue in 2024 – Here’s how to be financially prepared

Anagh Pal

Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

Sourabh Jain

Popular Keywords

Buying Guides