If we look at layoff trends in India, then late stage IPO headed startups are doing it to boost profitability, or mid to early stage ones where they're trying to fit into a viable biz model. some mid sized MNCs also did layoffs where they have seen hit to their books.. all in all, crux was similar - to boost efficiency and eliminate redundancy. Then comes the companies with their support teams in india or US/EU banks and their ops outsourced in India.. i mean if you got friends in these firms you would understand how chillax they're about this.
Take the example of AmEx...there's so much slack in the company, got few friends there and all of them don't work more 4 hours a day and that too most of the work some excel and next to shit level of python/sql while their salary in almost 90-95% of avg market (similar to what top paying startups).. Along with that teams are operating at 150% of strength so wlb is heaven there. story is similar with folks in similar US based support ops in india (citi, jp morgan, mastercard, some service based orgs etc)
but look the irony of overall market.. you should be efficient and scared about your job as long you're into startups and Indian firms but once you make it captive or offshore centres of these US based firms.. you're life is chill, relax, no bad wlb, practically no layoffs. so you won't find these folks scrambling across GV or fishbowl or like that and getting stressed about seeing how other folks feel when one of the closer startups decided to restructure
(i am frustrated because i once let go a offer of top US fintech company to go for a startup and now all i have is regrets given how the events across startup ecosystem are folding like layoffs across Fk, swiggy etc.. and not only layoffs but in general WLB and culture has taken a huge huge hit ::///// ) well it is what it is i guess then :,)
What are you talking about ? Amazon did multiple layoffs india, so did Google !
they're minuscule wrt to % of india employees vs the startup ecosystem
@dlfcybercity can you back your claim with some numbers? For example - Amazon laid off 27k folks last year, that's almost 9% of its workforce. Flipkart recently laid off 1k folks, that's around 5% of its workforce.
Plus the example you are giving, AmEx is basically a tier-2 company with mostly support work, just a level above service based companies. Their pay isn't comparable to top unicorns. So they would obviously have chill wlb/low layoffs.
I guess you are aware about a lot of companies operating from dlf cyber hub. Heard similar views on Amex. The work culture is great with excellent pay. Any more such companies that you are aware of other than the one you mentioned?
basically US or EU firms in india who only provide support ops to onshore teams or like that would have great wlb and high job security. but if you're trying to get in, remember lot of folks are waiting to get in atleast since past few months
I don’t understand what the point really was
I am seeing a lot of layoff related posts everywhere from news articles to LinkedIn.. Is the Job market really that bad now? Or just the media is projecting that way?
If it's really bad, which department you think is the most affecte...
It is really bad right now 1. Layoffs in many of the companies, irrespective of whether they're a startup or a big ...
I received one job offer
The economy went down? Yes. Did it affect all kinds of companies? Yes
Did the banks fire any one? No Did the Railways fire anyone? No Did the media agencies fire anyone? No
Did Large Tech companies and IT fire people? Absolute...
Not the way it works. It's a function of how fast an industry grows -> The faster it is, the more you have to hire i...
Looks like people have taken offense to this post and want to continue to protect their tech overlords
I understand that companies want to start new year with new energy. But doing it in the last working week of this year is just nuts.
Let folks enjoy the year. Do it in Jan first/ second week.
By doing now, you’re literally spoili...
They opt for dec, because its quarter ending. The books will appear cleaner from Jan and that quarter will look bet...
Spine, what is that?? - An Edtech start-up founder
Had they done in Jan first week, we would have said the new year got ruined. No point delaying the inevitable
