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Report: 16,398 Job Lost in 2023, 100 Indian Tech Companies and Startups Contributed to Layoffs, Lowest Ever Funding Recorded Since 2016

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Report: 16,398 Job Lost in 2023, 100 Indian Tech Companies and Startups Contributed to Layoffs, Lowest Ever Funding Recorded Since 2016

Numerous tech giants and startup companies have laid off hundreds and thousands of workers in 2023. The reasons cited for layoff vary from company to company. In 2023, the majority of companies have opted for AI automation.

Thus, to cut costs, they cut their workforce. As per the latest reports, the total number of employees who lost their jobs from renowned tech companies and startups in India is 16,398 employees. This is a huge number amid the layoffs occurring worldwide.

As per the reports, in 2023 big companies like JioMart, Swiggy, Paytm, and BYJU have joined the wave of global layoffs by contributing to a majority of the percentage of labor turnover in 2023. Paytm, the Fintech major cut its workforce as it adopted Artificial Intelligence and automation.

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Meanwhile, BYJU, the Edtech major has its own set of reasons to contribute to the labour turnover. Apart from these big companies, several Indian tech startups contributed to the labor turnover due to the adoption of AI, Automation, and other reasons.

Layoffs at Indian Tech Companies and Startups in 2023

In 2023, the majority of employees were cut down from certain prime locations across India including Chennai, Bengaluru, Pune, Delhi NCR, Hyderabad, Mumbai, and more. Financial Express reported that the following major tech giants of India contributed to the labor turnover in thousands with BYJU laying off 2,500 employees, Paytm with JioMart cutting down 1,000 employees, with Swiggy laying off 380 employees. Besides these top companies, other small-growing companies, and startups also contributed to the labor turnover.

WayCool-300 employees, Dunzo-300 employees, MPL-350 employees, Meesho-251 employees, Adda247-300 employees, Skill Lync-600 employees, 1K Kirana-600 employees, Milkbasket-400 employees, Ola-200 employees, Spinny-300 employees, Pristine-300 employees, and ShareChat-700 employees.

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Report’s Findings

Financial Express’s report suggested that there was a decline in 72% of funding in 2023 in the Indian tech startup ecosystem. The decline in funding until December 5, 2023, was $25 billion in 2022 as compared to $7 billion in 2023.

Also Read: Sandeep Maheshwari vs Vivek Bindra Scam Controversy LIVE UPDATES: Here’s What Happened So Far

The report also states that the funding reported is the lowest ever in the last five years. Since the third quarter of 2016, the funding recorded is the lowest. Moreover, as per the report, India’s job market will soon witness a rise in demand on the global market amid ongoing economic crises and challenges.

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Subhashree Panda: A proficient content writer, editor, and researcher. With 4 years of experience and an MBA in finance, she crafts compelling narratives on global events. Her passion for diverse journalism genres resonates widely, fostering broad audience connections.

India News

AstraZeneca’s Covishield To Cause Rare Yet Serious Side Effects

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AstraZeneca's Covishield To Cause Rare Yet Serious Side Effects

A huge update for those who were a part of COVID vaccination programs! Rare side effects of the vaccination have surfaced, questioned by numerous health experts.

The Economic Times reported that AstraZeneca, the British-Swedish multinational pharmaceutical and biotechnology company, has legally acknowledged that its product, Covishield, can cause certain rare side effects.

AstraZeneca developed Covishield, which was produced by the Serum Institute of India. In India, Covishield was one of the primary vaccines provided to citizens.

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AstraZeneca’s Statements

AstraZeneca is currently facing a lawsuit in a UK court. The lawsuit was filed after claims surfaced on the internet that AstraZeneca’s vaccine caused deaths. To date, 51 deaths have been reported, hence 51 cases have been filed against the company.

AstraZeneca finally admitted in one of the court papers that, “Covishield can, in very rare cases, cause TTS.” TTS stands for Thrombosis with Thrombocytopenia Syndrome.

Dr. Rajeev Jayadevan, a medical expert, told ANI,

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“TTS is thrombosis with thrombocytopenia syndrome, which is basically a clot in the blood vessels of the brain or elsewhere, along with a low platelet count. It is known to occur in very rare instances following certain types of vaccines and also from other causes. According to the WHO, adenovirus vector vaccines, in particular, have rarely been associated with this condition.”

TTS: About, Diagnosis, Treatment

TTS, or Thrombosis with Thrombocytopenia Syndrome, is a serious yet rare health condition characterized by low platelet counts (thrombocytopenia) along with the formation of blood clots (thrombosis).

Various symptoms associated with TTS include neurological deficits, shortness of breath, leg swelling, abdominal pain, and severe headaches.

TTS can be diagnosed if blood tests are conducted to assess the levels of platelets in the blood. Moreover, to detect blood clots, imaging studies are required, reported the Times of India.

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TTS can be treated with a multidisciplinary approach. It includes supportive care, anticoagulation therapy to prevent blood clotting, and hospitalization.

To manage and stabilize platelet levels in the body, plasma exchange and intravenous immunoglobulin (IVIG) can also be performed.

Patients with TTS are prone to severe complications like death and organ damage. Hence, close monitoring of patients by healthcare providers is a must.

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Also Read: Online doctor consultations in India increase by 4 times after the Covid-19 pandemic: Report

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Report: Gangster Goldy Brar Is Alive, Confirms US Police

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Report: Sidhu Moosewala Murder Case Prime Suspect, Goldy Brar Is Alive 

The prime suspect in the murder case of a famous Punjabi singer, Goldy Brar, is alive, reported TOI.

Goldy is the infamous Canadian gangster who was earlier rumored to be dead in an alleged incident that took place at Fairmont and Holt Avenue last Tuesday.

In the incident, one of the two individuals reportedly got gunshot wound and succumbed to injuries at the hospital. You can read our story about California shooting incident in which Goldy Brar allegedly got shot here.

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As per the US police, reports of Goldy’s disappearance were circulating all over the internet on Tuesday. However, the U.S. authorities clarified the rumors of Brar’s disappearance in a California shooting incident are untrue. 

The claims were refuted by the Fresno police department and labeled them as fake. William J. Dooley, the Lieutenant, debunked online speculations and announced that the victim of the California shooting was not Goldy Brar. 

William J. Dooley stated,

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“If you are inquiring because of the online chatter claiming that the shooting victim is ‘Goldy Brar’, we can confirm that this is absolutely not true.”

Who is Goldy Brar?

Goldy Brar, hailing from Muktsar Sahib, Punjab, is a close ally of gangster Lawrence Bishnoi. It is anticipated that he is the mastermind behind the assassination of Sidhu Moose Wala, the Punjabi pop icon. 

According to The Economic Times, in January 2024, Satinderjit Singh, also known as Goldy Brar, was designated as a terrorist by the Ministry of Home Affairs under the anti-terror law, UAPA (Unlawful Activities (Prevention) Act). 

Orders by the government-linked Goldy Brar to a listed terrorist organization under the UAPA, Babbar Khalsa International. 

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Goldy Brar has never ceased to vanish from police’s eyes since he murdered Punjabi singer Sidhu Moosewala. His father also was a Police Officer himself.

After completing his graduation and getting a BS degree, he has been operating from Canada remotely. 

Last year Goldy’s statement, targetting Bollywood superstar Salman Khan next made huge media headlines.

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Prajwal Revanna ‘Sexual Abuse’ Viral Video Case: Here’s What We Know So Far

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Prajwal Revanna

The viral sex video case involving Prajwal Revanna, a member of the prominent Karnataka political family JDS, has created a storm in the Karnataka political scene.

The video, which involves a trail of deceit connected to a 16-acre ancestral property, has led to allegations of intimidation and blackmail, resulting in legal action and widespread dissemination of the tapes.

The central figure, now-suspended MP Prajwal Revanna, is the grandson of former Prime Minister HD Deve Gowda.

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The origins of this scandal trace back to an acrimonious land dispute within the inner echelons of H D Deve Gowda’s son, H D Revanna’s family. In 2023, a trusted lieutenant of the Revanna family, Kartik, went rogue and decided to challenge the family’s monopoly.

At the center of the controversy was a 16-acre piece of land located in the ancestral village of the Deve Gowda clan in Holenarsipura.

This land soon became a prestige issue and the bone of contention between Kartik and the Revanna family.

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Tensions escalated when Kartik, feeling marginalized, lodged a complaint in December 2023 accusing Prajwal and his mother of using coercive means to hand over the land.

This was followed by a series of revelations about clandestine activities within the Deve Gowda lineage.

It was also revealed that Kartik had access to Prajwal’s mobile phone, with which he recorded the incriminating videos.

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The scandalous videos were initially shared on his personal device and later used as a tool of blackmail after Kartik’s fallout with the family.

Kartik later approached prominent lawyer and BJP functionary G Devaraj Gowda, which further aggravated the situation.

This led the Revanna family to seek legal action against some media outlets and individuals, alleging a smear campaign against them.

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The courts ruled to forbid the release of the videos in any manner.

G Devarajegowda maintained silence and did not release the videos, citing concerns for privacy and dignity.

However, his political rivals did not let the opportunity slip and started a widespread dissemination of the tapes ahead of the elections.

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According to Kartik, he doesn’t know what Devaraj did with the videos.

Whenever he asked about them, Devaraj told him to wait.

It is also said that Devaraj gave the videos to the BJP high command and even asked the party not to give a ticket to Prajwal, and wrote a letter to this effect.

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Later, Kartik asked Devaraj to return the pen drive containing the videos.

Devaraj gave him a copy of the letter he had written to the BJP high command, stating that even if he did not get justice from the court, he would seek it in this way.

Later, Kartik said that Devaraj discussed the matter with the media and started ignoring him.

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Devaraj also stated to the media that he had given some copies of the videos to some friends from Congress, but this has been outrightly denied by Kartik, who added that Devaraj had cheated him.

The Karnataka Government has initiated a special probe and has formed an SIT team to investigate the matter.

Things have become even more complicated after Prajwal’s departure for Frankfurt, Germany, just a day before the formation of the SIT, leading to many unanswered questions.

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The SIT team has been tasked with investigating allegations of sexual harassment and an alleged obscene video scandal against Prajwal Revanna, the current Member of Parliament (MP) representing the Janata Dal (Secular) from Hassan.

It is not clear how many women have been victims in this high-profile sex scandal. It is alleged that a number of women were sexually harassed, and videos were made.

More than 3000 videos have gone viral on different social media platforms like Twitter, Reddit and more.

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The videos started surfacing about 5 days before the start of the second phase of the voting for the Lok Sabha 2024 elections, which occurred on 20 April.

Voting for the second phase of the elections happened on 26 April in different parts of the country, including 14 Lok Sabha seats in Karnataka.

Prajwal Revanna, however, remained unfazed and even participated in the election campaigns, asking voters to support the NDA alliance, of which JD(S) is a component.

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Post-elections, he took a flight to Germany, and opposition parties have alleged that he fled the country to escape prosecution.

Amidst these developments, a woman who had worked with the Revanna family filed an FIR and made many shocking charges against both HD Revanna and Prajwal Revanna.

The woman stated that she first came in contact with the Revanna family when she was employed as a worker during their son Sooraj’s marriage.

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Later, Prajwal Revanna would often call her alone to a room.

She revealed that six women used to work for the Revanna family and all were petrified and afraid of Prajwal Revanna.

The woman also alleged that whenever the female members of the Revanna family were out, Prajwal Revanna would call her and behave in an objectionable manner.

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She also accused him of sexually molesting her.

The Holanarsipur Police have since recorded the statement of the woman and are investigating the matter, and have registered a case against both H D Revanna and Prajwal Revanna.

Also Read: Dhruv Rathee Debunked Viral Claims Of Him and His Wife Being Pakistani

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