Restructuring, Funding Winter Hits Indian Startups As Layoffs Intensify

From corporate governance issues to cash crunch, Indian startups and their employees are facing tough times.

GoMechanic

GoMechanic laid off about 70% of its workforce as the company restructures business after admitting "grave errors" in financial reporting.

Swiggy

Food and grocery delivery platform Swiggy is set to lay off 380 employees "as a part of a restructuring exercise".

ShareChat

Mohalla Tech Pvt., the parent of social networking app ShareChat and short video app Moj, has laid off about 20% of its workforce. The company said it needs to "prepare to sustain" through "external macro factors that impact cost and availability of capital".

Ola

Cab aggregator Ola, which has forayed into manufacturing electric two-wheelers, laid off 200 employees as part of its group-level "restructuring" exercise.

MediBuddy

End-to-end digital healthcare platform MediBuddy laid off 8% of its workforce or around 200 people across all departments as a restructuring exercise.

Skit.ai

Software-as-a-service, or SaaS, voice automation startup Skit.ai sacked more than 100 employees, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter.

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