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New Delhi, As global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more to be given pink slips in the coming months amid deepening funding winter. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, <keyword id="2808667" type="General" weightage="50" keywordseo="oyo" source="Orion">OYO</keyword>, Meesho, Udaan and many more. The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date. With the onset of January, more and more Indian companies are slashing jobs across the spectrum. The new year has already seen more than 16 homegrown startups sack employees in the country. Social media company <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword> (Mohalla Tech Pvt Ltd) has laid off 20 per cent of its workforce due to uncertain market conditions. Backed by Twitter, Google, Snap and <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, ShareChat has about 2,300 employees, and the layoff impacted about 500 people at the company, Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in India and the US. Innovaccer cofounder and CEO Abhinav Shashank cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. This was the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce. Online food delivery platform <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> confirmed that the company is laying off 380 employees as food delivery growth slows. MediBuddy, an end-to-end digital healthcare platform in India, has laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. Homegrown online vehicle repair platform GoMechanic, backed by <keyword id="563136" type="General" weightage="50" keywordseo="sequoia-india" source="Orion">Sequoia India</keyword>, has laid off 70 per cent of its workforce as the startup struggles to raise funds amid serious concerns of accounting troubles. The company has asked the remaining staff to work without pay for three months, according to reports. Software-as-a-service (SaaS) voice automation startup Skit.ai has asked more than 115 employees to go, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter. Even IT giant <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> has laid off more than 400 fresher employees for poor performance in internal assessment tests. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a> <a href="https://www.businessinsider.in/business/news/an-app-that-wants-to-turn-fear-of-stock-markets-into-fun-raises-75-lakh-from-sharks/articleshow/97378121.cms">An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks</a> <a href="https://www.businessinsider.in/india/news/steps-taken-in-subsidence-hit-joshimath-inadequate-declare-himalayas-eco-sensitive-zone-say-experts/articleshow/97411665.cms">Steps taken in subsidence-hit Joshimath inadequate, declare Himalayas eco-sensitive zone, say experts</a>

70-plus Indian startups show exit door to 21K techies, more pink slips coming

Mohalla Tech, the parent company of homegrown social media apps <keyword id="8678883" type="General" weightage="20" keywordseo="moj" source="Orion">Moj</keyword> and <a href="https://www.businessinsider.in/advertising/media/article/bharat-users-are-as-affluent-and-digitally-savvy-as-india-users-sharechat-and-groupm-report/articleshow/89154657.cms" data-type="tilCustomLink">ShareChat</a>, is acquiring Times Internet-owned short-video platform <a href="https://www.businessinsider.in/tech/news/india-predicted-to-have-650-million-short-form-video-users-by-2025/articleshow/86792986.cms" data-type="tilCustomLink">MX TakaTak</a> for nearly $600 million (about Rs 4,500 crore), sources said here on Thursday. In 2021, Mohalla Tech cumulatively raised $913 million, at a valuation of $3.7 billion. The acquisition, sources close to the development told IANS, will further bolster <keyword id="3358959" type="General" weightage="20" keywordseo="sharechat" source="Orion">ShareChat</keyword>'s short-video market share through the platform Moj. When contacted, the companies declined to immediately comment on the development. Moj and ShareChat together have a 340 million-strong user community, while <keyword id="9555198" type="General" weightage="20" keywordseo="mx-takatak" source="Orion">MX TakaTak</keyword> has nearly 150 million monthly active users (MAUs). Founded in 2015, Mohalla Tech has raised over $1.177 billion across eight fundraising rounds to date. Moj currently has an average user time spent of 34 minutes every day, scoring over 4.5 billion views daily. ShareChat is positioned uniquely with an average user time spent of 31 minutes daily. Since January this year, the company has grown to over 2,000 employees and added several new features as it focuses on building its products to be the leader in the Indian short video and social media space. In December, Mohalla Tech raised $266 million as part of its Series G round. "Both our products (Moj and ShareChat) have been leading the market with the highest monthly active user base, a very active creator set and amazing new partnerships to delight our community. This fresh funding will further strengthen our position," said Ankush Sachdeva, CEO and Co-founder, Moj and ShareChat. After the ban on TikTok and other Chinese short-video making apps, the advertisement revenue from Indian short-form space has been growing at a rapid pace and tripled in just six months. According to a latest report by homegrown consulting firm RedSeer Consulting, short-form content has grown 1.37 times in terms of monthly active user (MAU) and 1.1 times in terms of daily active users from June 2020 when Chinese app TikTok was banned in India. The monthly active users of the short-form segment in the country are expected to grow more than two times to reach 650 million users by 2025, clocking the second spot after television. This significant growth is largely expected to be driven by the new 300 million Internet users that will be added by 2025. "Both Josh and Moj apps have seen a good jump in user and creator net promoter score (NPS) largely driven by users seeing more personalisation, fresher and more filtered content, and creators having access to new tools, increased reach and more collaboration opportunities," said the report.

ShareChat to acquire short video platform MX TakaTak for around ₹4,500 crore

Home-grown regional language social media platform <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">ShareChat</keyword> on Wednesday announced that it had to let go of 101 of its employees, or about a fourth of the company's total workforce, due to the COVID-19-induced uncertainties in the advertising market. The Bengaluru-based company's cost-saving measures were announced in an email to employees by Ankush Sachdeva, Cofounder and CEO of the five-year-old firm which competes against the likes of Facebook and TikTok. "... today with the market uncertainties due to COVID-19, we are compelled to take a relook at our business. We have had to make a few decisions that would allow us to become leaner and position the company better for the future," Sachdeva said in the email. A ShareChat spokesperson later confirmed the decision to lay off 101 employees. "The global pandemic along with various local market uncertainties have had an impact on our business plans. This has pushed us towards certain tough decisions including a revised leaner structure while we continue to grow," the spokesperson said in a statement. "We've had to let go of 101 of our employees who've been part of our start-up journey. This was not an easy decision to make." ShareChat said it will provide a comprehensive severance package and extend assistance to the impacted associates with their outplacement support. The Twitter-backed firm started monetisation through advertisements only last year. But the COVID-19 brought uncertainties to the ad market. "We have to focus on our core product and feed recommendation driven growth levers while scaling back on the others. We need to go back to our fundamentals in terms of only picking bets that move the needle for growth," Sachdeva said. "We believe the Ad Market would remain unpredictable this year. We are streamlining our revenue teams to these new expectations yet will keep working towards building the necessary technology infrastructure," he said. In another big change, which is in line with Twitter's decision to allow some employees to work from home forever, ShareChat said that it would be partially remote at all times in the future. "We have adapted well to the remote working environment. Hence, we have relooked at the requirement of physical office spaces. We would be partially remote at all times in the future," Sachdeva said in the email. ShareChat, which has over 60 million monthly active users, raised $100 million in a new round of funding in last August. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ms-dhoni-backed-khatabook-adds-to-its-line-up-of-star-investors-sequoia-and-tencent-get-more-stake-in-indias-largest-small-business-app/articleshow/75842295.cms">MS Dhoni-backed Khatabook adds to its line-up of star investors ⁠— Sequoia and Tencent get more stake in India's largest small business app</a> <a href="https://www.businessinsider.in/tech/news/faisal-siddiquis-tiktok-acid-attack-video-is-adding-to-the-growing-list-of-problems-for-the-platform-in-india/articleshow/75800571.cms">Faizal Siddiqui’s TikTok acid attack video is adding to the growing list of problems for the platform in India</a> <a href="https://www.businessinsider.in/tech/news/tiktok-gogole-play-ratings-fall-to-1-3-stars-after-4-million-comments/articleshow/75842653.cms">Tiktok got 4 million comments on Google Play Store dragging down its rating to 1.3⁠ — but it may not disappear yet</a>

ShareChat sacks 101 employees due to  'market uncertainties' amid COVID-19

More than 1,600 tech employees are being laid off per day on average in 2023 globally including in India, and the sacking episodes have gained speed amid <keyword id="16083439" type="General" weightage="20" keywordseo="global-economic-meltdown-and-recession-fears" source="Orion">global economic meltdown and recession fears</keyword>. In 2022, over 1,000 companies laid off 154,336 workers, as per the data from layoffs <keyword id="16083440" type="General" weightage="20" keywordseo="tracking-site-layoffs-fyi-" source="Orion">tracking site Layoffs.fyi.</keyword> The <keyword id="16083430" type="General" weightage="20" keywordseo="mass-tech-layoffs" source="Orion">mass tech layoffs</keyword> of 2022 are continuing into the new year, and Indian companies and startups are among the leaders in firing staff. Homegrown social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20 per cent of its workforce due to uncertain market conditions, affecting more than 500 employees. Backed by Twitter, Google, Snap and Tiger Global, ShareChat has about 2,300 employees. In December 2022, ShareChat laid off less than 5 per cent of its employees after it shut down its fantasy sports platform called Jeet11. Companies like Ola (which fired 200 employees) and voice automated startup Skit.ai also dominated the headlines for laying off employees this month. Homegrown quick-grocery delivery provider Dunzo has laid off 3 per cent of its workforce amid cost-cutting measures. The year 2023 has begun on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead. Amazon announced to lay off 18,000 employees globally, including nearly 1,000 in India. Meanwhile, LinkedIn is full of job hunts, offers of support for laid off friends and colleagues, and advice for coping with career hurdles as several companies trim their workforce to navigate through an uncertain macroeconomic environment. According to market research firm Sensor Tower, the LinkedIn app was downloaded an estimated 58.4 million times in 2022 globally across Google Play Store and Apple App Stores -- up 10 per cent from 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/paytm-payments-bank-gets-final-nod-from-rbi-to-operate-bharat-bill-payment-system-services/articleshow/97032913.cms">Paytm Payments Bank gets final nod from RBI to operate Bharat Bill Payment System services </a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-ceos-see-a-difficult-year-but-most-say-they-wont-go-for-job-or-salary-cuts-pwc-survey/articleshow/97046963.cms">Indian CEOs see a difficult year but most say they won’t go for job or salary cuts: PwC survey</a>

Over 1,600 techies being fired a day on average in January says tracking site Layoffs.fyi

Homegrown regional language social media platform <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">ShareChat</keyword> on Monday said that it has fully migrated its infrastructure to <keyword id="691847" type="PERSON" weightage="20" keywordseo="Google-Cloud">Google Cloud</keyword> in a bid to improve efficiency, reduce costs and enhance the overall performance of the app. The migration of its infrastructure from <keyword id="141088" type="COMPANY" weightage="20" keywordseo="Amazon-Web-Services">Amazon Web Services</keyword> (<keyword id="291131" type="ORGANIZATION" weightage="20" keywordseo="AWS">AWS</keyword>) to Google Cloud is expected to help ShareChat cut expenses on backend technology by as much as 20 per cent. "Google Cloud was our cloud partner of choice given its superior technology, secure and high-performing infrastructure, and cost effectiveness. We were also able to build a high degree of trust with Google's team that made this seamless migration a reality," Bhanu Pratap Singh, Chief Technology Officer, ShareChat, said in a statement. "Developers want tools that can accelerate and improve the app development cycle. Google's advanced tools and integrated offerings like Cloud Bigtable, Cloud Spanner and Kubernetes are aligned well with our requirements." ShareChat currently serves more than 60 million monthly active users in 15 different Indian languages. A large proportion of its active users hail from tier-2 and tier-3 cities, with the majority of them relying on 2G networks. ShareChat decided to migrate to Google Cloud in April. So the migration from its incumbent Cloud platform to Google Cloud took place amid the Covid-19 crisis. "We are delighted to partner with ShareChat on its digital transformation journey, and to help the company implement the world-class scalable and reliable infrastructure that will continue to enable it to deliver innovative and secure cloud-based services to millions of ShareChat users nationwide," said Karan Bajwa, Managing Director, Google Cloud India. ShareChat last month announced the sacking of 101 employees, about a fourth of the company's total workforce, due to the Covid-19-induced uncertainties in the advertising market. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-motors-maruti-and-hyundai-offer-discounts-on-cars/articleshow/76324233.cms">After Maruti and Hyundai, Tata Motors offers discounts as car makers get squeezed between slow sales and slower registrations</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-fourth-quarter-revenue-profit-preview-and-share-price-chart/articleshow/76370176.cms">JLR saved the last quarter for Tata motors⁠— but the challenges in China, UK, and Europe are mounting</a>

ShareChat ditches AWS, migrates to Google Cloud to cut costs

SaaS platform for online stores <keyword id="1249046" type="General" weightage="100" keywordseo="dukaan" source="Orion">Dukaan</keyword> has laid off nearly 30 per cent of its workforce, or around 60 employees - its second layoff in about six months. Inc42 reported that the latest layoffs impacted employees in the sales team and accounts. According to the report, the retail tech platform "shifted its focus to helping D2C brands scale up and this was the reason for the layoffs". In 2021, Dukaan raised $12.4 Mn in its pre-Series A round led by 640 <keyword id="16813517" type="General" weightage="50" keywordseo="oxford-ventures" source="Orion">Oxford Ventures</keyword>. It also raised $6 million in a seed round from <keyword id="366603" type="General" weightage="50" keywordseo="matrix-partners-india" source="Orion">Matrix Partners India</keyword> and Lightspeed India Partners. In the same year, Dukaan partnered with homegrown hyperlocal delivery platform Dunzo and e-commerce aggregation platform Shiprocket to integrate delivery into the platform for a seamless retail experience. Founded in 2020 by <keyword id="12033809" type="General" weightage="50" keywordseo="suumit-shah" source="Orion">Suumit Shah</keyword> and <keyword id="2201253" type="General" weightage="50" keywordseo="subhash-choudhary" source="Orion">Subhash Choudhary</keyword>, Dukaan is a comprehensive platform that provides end-to-end solutions ranging from inventory management, promotions, sales, payment and delivery for sellers across the country. In September last year, Dukaan partnered ShareChat and Moj to enable the merchants on its platform to collaborate with creators present on ShareChat and Moj to promote their products through video and live content. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rare-vulture-species-sighted-at-dudhwa-national-park/articleshow/98691284.cms">Rare vulture species sighted at Dudhwa National Park</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/once-again-lemon-prices-soar-to-200-per-kilo/articleshow/98691510.cms">Once again, lemon prices soar to ₹200 per kilo</a>

Retail tech platform Dukaan lays off 30% of its workforce; second layoff in 6 months

<ul><li><keyword id="132652" type="General" weightage="100" keywordseo="cleartrip" source="Orion">Cleartrip</keyword> to increase its workforce to 700 employees, a three-fold increase from October last year.</li><li>Earlier this quarter, the <keyword id="7254678" type="General" weightage="20" keywordseo="travel-aggregator" source="Orion">travel aggregator</keyword> had increased its workforce by 60%.</li><li>The hiring will be done in technology and product teams and across various destinations in India.</li></ul>Cleartrip, a Bengaluru-based travel aggregator website, is looking forward to ramping up its workforce by 400 employees by December 2022. Hiring of 400 employees will take the workforce to a total of 700 employees, a three-fold increase from 240 employees in October 2021. The hiring will be done in technology and product teams and across various destinations in India — Goa, Karnataka, Kerala, Tamil Nadu, Maharashtra, Gujarat, Jammu and Kashmir, Himachal Pradesh, West Bengal, Madhya Pradesh, Rajasthan and Punjab. Earlier this quarter, the travel aggregator had increased its workforce by 60%. Large number of hiring was dedicated towards its plans to scale up its hotel category business. When asked about the reason behind this massive hiring spree, Ayyappan Rajagopal, chief executive officer (CEO) of Cleartrip said, “Cleartrip is actively hiring for their upcoming tech park in Chennai where all the technology-related backhand work will be handled so that we can reach the target of 400 employees by the end of this year.” He further said, “By hiring top talent from the industry across levels, we are infusing fresh energy and ideas into our teams, setting us up for success. As we move forward in 2022, one of our key goals this year is to bring more offerings, scale up our existing verticals to bring more digitally-enabled travel experiences for our customers to boost their confidence while travelling during what has been a difficult time.” The announcement comes after Cleartrip’s acquisition by the Flipkart Group, part of US-based Walmart Group, which has accelerated the brand’s growth strategy to make an end-to-end travel app for the company by the end of 2022. In 2021, e-commerce giant Flipkart had <a href="https://www.businessinsider.in/business/news/flipkart-acquires-cleartrip-in-an-effort-to-cement-its-position-in-the-travel-booking-segment/articleshow/82081931.cms">acquired</a> a 100% stake in Cleartrip, making it a Flipkart Group company. Cleartrip has raised a total of $56.4 million in funding over 7 rounds, as per data from Crunchbase. Their latest funding was raised on October 29 last year in a secondary market round. Founded in 2006, Cleartrip is an online travel firm for booking flights, train tickets, hotel reservations, and activities in India and the Middle East countries. It holds offices across India, UAE, Saudi Arabia and Egypt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sharechat-to-acquire-short-video-platform-mx-takatak-for-around-4500-crore/articleshow/89479244.cms">ShareChat to acquire short video platform MX TakaTak for around ₹4,500 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/two-indian-cities-are-in-global-top-10-of-the-most-congested-places-to-drive-through-take-a-guess/slidelist/89476030.cms">Two Indian cities are in global top 10 of the most congested places to drive through – Take a guess</a>

You Searched For "sharechat employee" and got 7 results

70-plus Indian startups show exit door to 21K techies, more pink slips coming

IANS

ShareChat to acquire short video platform MX TakaTak for around ₹4,500 crore

IANS

ShareChat sacks 101 employees due to 'market uncertainties' amid COVID-19

Prabhjote Gill

Over 1,600 techies being fired a day on average in January says tracking site Layoffs.fyi

IANS

ShareChat ditches AWS, migrates to Google Cloud to cut costs

IANS

Retail tech platform Dukaan lays off 30% of its workforce; second layoff in 6 months

IANS

Online travel booking portal Cleartrip to increase its workforce by 400 by the end of this year

Vaamanaa Sethi

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