Startup layoffs are down 62% so far in 2024; likely to ramp up hiring

After a series of layoffs, startups in India are expected to increase their workforce by more than 10 percent this year compared to last year, HR platforms said.

The number of layoffs has also fallen year after year. Companies laid off 3,600 workers in the first five months of the year (January-June), down 62 percent from 9,596 in the same period last year.

According to Layoffs.fyi, there were 16,398 layoffs in all of 2023.

Now that the startup world is recovering, the number of new startups has increased by almost 40 percent.