Skilling, Labour, Talent for MSMEs: Among the notable layoffs in the past few months have been by Indian technology enterprises particularly such as MakeMyTrip, Swiggy, Zomato, OLX, Uber India, Ola, WeWork India, CureFit, OYO, and more.
Skilling, Labour, Talent for MSMEs: The Covid pandemic brought with itself a barrage of job losses and layoffs particularly among Indian startup and small business ecosystem. As businesses were taken off guard, the growth plans for 2020 went into a tizzy that eventually boiled down to surviving the period, particularly the lockdown, on a shoestring budget. This inadvertently had a cascading effect on jobs as many businesses not just pulled the plug on hiring but also had to let go part of their employee strength to save on manpower cost and redirect that money into operations to remain afloat.
“There has been an overall decline of around 40-50 per cent in pre-Covid number of people employed among many startups and small businesses. While the exact number would largely differ based on the business type, its size, and geography it operates in but since Covid had an all-encompassing effect on businesses of all shapes and sizes, the layoffs have been quite significant among emerging businesses,” a startup and small business consultant told Financial Express Online. Among the notable layoffs in the past few months among Indian technology enterprises particularly have been by companies including MakeMyTrip, Swiggy, Zomato, OLX, Uber India, Ola, WeWork India, CureFit, OYO, and more.
Source: Financial Express
