Most Indian startups don't give severance. They ask their employees to resign or they'll give bad feedback in their termination letter.

Software Engineer

Practo engineering team is down to just 35 members now. Close to 50% of the engineering team was laid off

Can be. I'm not aware of the exact numbers.

I remember a time where they were 100 PMs working in Practo

Growth Manager

Engineering Manager

Wtf they are saying it's not due to cost cutting but due to performance https://www.indiatoday.in/technology/news/story/healthcare-app-practo-lays-off-41-employees-from-engineering-team-2357440-2023-04-08

bc itne amount ka subscription bechte hain sort of monopoly type in this category, fir bhi ye condition hai

Paisa nahi hai.. I don’t think they are making any money. It is a sinking ship

might be true, since these days most indian startups are running on debt structure

I have heard only for 5 years, then they go back to pool?

This is a continuation to my previous post.

Some engineering people with lot of dependencies were asked to leave. HR is motivating juniors, that they can do the work without the senior folks. 
  
 Which I think is not fkin possible.

That just results in further chaos and the existing team and product always suffers because of this type of behaviour.

Business Analyst

Quite a large number of people were asked to resign gradually over the 3 weeks.  The impacted personnel include SEs,Some PMs, and EMs too.  Looks like a massive downsizing. Around 30 percent of...

Quite a large number of people were asked to resign gradually over the 3 weeks.

The impacted personnel include SEs,Some PMs, and EMs too.

Looks like a massive downsizing. Around 30 percent of the folks seem affected, but I'm not sure on that number.

No severance. A month of notice.

Layoffs at Practo

Layoffs at Practo- Grapevine

Have heard some rumours that layoffs are gonna happen at Practo in a couple weeks.

Layoffs incoming

Hearing rumours that Koramangala based healthcare startup practo did layoff last week. Can anyone confirm

Practo layoff?

Welcome to Indian Startups's Private Community

Paytm layoffs

Product Manager

Preqin has laid off around 40% of its workforce from India today. The company has a 2 month notice period policy but affected people don't need to serve this period. They will get 2 months salary + severence packgae which is worth 2 monhs salary, so 4 monthspay in total. 
This company had started compulsory WFH this month.

Preqin lay offs

Heard that Paytm is planning to layoff 10% of entire work force. Across all levels.

Heard cases that folks who were hired at market premium less than 30 days ago are now being asked to leave the organisation. 

And the layoffs will be hidden under the guise of mid year appraisals. #PaytmKaro

Layoffs coming up at Paytm

Data Scientist

Welcome to News Discussion's Private Community

Heard they are doing another round of firing today, can anyone confirm this?

Byjus layoffs

Analyst

HR is having 15-20 meets everyday, anyone can confirm with their calendar. 

Multiple HRs multiple laid off people. Zero severance. They are pressuring people to resign and saying you have to resign today itself! 

Market is going to get flooded with Paytm folks. 

Worst regret is that management and CEO made bad decisions and flunked compliance / risk. But after crackdown by RBI they are making employees suffer. 

It is heard that this will continue to go on till months. 

There should be a course on how to behave and work like a CEO.

Paytm is laying off people since May 27 (forced resignation)

Hi Guys,
The management at Paytm has informed around 30-40 % will be laid off in May end.

I will be affected by Paytm layoffs as list is being prepared.
Any referrals/leads for backend software Engineer(tech stack Scala,Kafka,SQL,AWS ) would be helpful as I had joined Paytm as fresher last year.Total experience will be 1 year in June.

Laidoff by paytm

Software Developer

Post phonepe declined to acquire Zest, following ate the scenarios at Zest : 

1. 33% employees laid off
2. 33% employees were hired at Phonepe
3. 33% employees have jobs at Zest but they are thinking Zest to be a sinking ship so might move away.

ZestMoney layoff scenario

dunzo laid off ~20-25% of it's workforce today, calling it that they overhired, pretty pre-planned.
And coincidentally some dept. heads are on leave for the next few days, unavailable to answer their team.
I wonder why these people even take up the leadership roles if they can't step forward to answer.

Dunzo massive layoff

PayPal layoff 7% of its workforce. Around 2000 employees get laid off.Can anyone confirm?

PayPal layoff

Project Coordinator

Unacademy layoffs have started

1-on-1s getting scheduled by end of day, 3-month severance, just announced.

Swiggy lays off 380 in emergency townhall

Happened last week. 

Navi does this half-yearly if not quarterly. Supposed to be performance based but systems and checks are not in place to assure the process is unbiased. 

Myntra - not an organisation which does layoffs much. 

Please shed some light.

Navi & Myntra - layoff or mass resignation???

Investor

Just wanted to give some updates now that it has been 1 month since the last post

1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 
2) There are more people in the pipeline and will get more clarity by month end.
3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
5) Senior Management Has been asked to take 20% paycuts. 
6) Even at Junior level, people have been asked to take pay cuts or resign.
7) Lots of tools used in tech are being removed and AWS subscription has also been revised.


Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

Rampant Negativity at Yubi Part 2

they laid off around 30-40% of their strength.

Layoffs in simpl.

Senior Product Designer

One more round of layoffs at a Chennai based saas startup

Customer Success

As of now 10 members laid off in consumer banking division in Hyderabad.

Layoffs Started in Goldman Sachs

Reason - the team wants to accelerate timeline to profitability 
To those affected really sorry this community is here for you!

🚨250 people laid off at Meesho

Investment Associate

https://www.reuters.com/business/cisco-cut-thousands-jobs-it-seeks-focus-high-growth-areas-sources-2024-02-09/

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