Tech job losses on course to exceed 2022 number, already at 57% of last yr

Thousands of layoffs in India's key start-up centres point towards more job losses in 2023 than in the previous year at the current pace.

Some 8,134 employees have reportedly lost their jobs in the country as of May 2023 according to data from tech sector job cuts tracker Layoffs.fyi (chart 1). The database collates figures which appear in various media reports. This is not an exhaustive list, but can be considered broadly indicative of the trend in technology companies, amid an adverse funding environment and the global economic slowdown.

The number so far in 2023, in the fifth month of