India’s employment story may have shifted from the lure of multinational corporations to startups, but the last two years have been a rough ride for the Indian entrepreneurial ecosystem. The first half of 2024 saw nearly 10,000 employees being laid off in Indian startups, according to data from Longhouse Consulting.
This was an improvement from the 15,000 layoffs in the second half of 2023, which followed the 23,000 layoffs in the first half of the same year. India’s economic conditions remain favourable, with an estimated growth rate of 9.7% in Q1 2024-25, but does a startup job and its perks offset the high-volatile environment? HR experts seem unanimous in their response.
“At an ecosystem level, we have gone through the worst of it already,” says PhonePe’s Chief People Officer Manmeet Sandhu. An HR expert with more than 20 years of experience, Sandhu was speaking on YourStory’s new podcast, The Mass Effect. In the first episode, hosted by Shivani Muthanna, …