28 April 2022, Mumbai:
Startups shed flab as large funding rounds lose stream.
Cos focus on profit, reducing costs.
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Startups are looking to prune costs amid the tightening of larger-sized funding rounds. They are doing that by shedding staff.
Handing out pink slips
Mostly late-stage startups that are highly valued & have significant cash burn laying off staff.
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There is a slowdown in large financing rounds of $100-150$ m.
More than 1800 full-time, contractual employees fired in last few weeks; more jobs cut ahead
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CREDITS: ET Dt 28-04-2022 (The news article has not been edited by DFU Publications staff)