<ul><li>Tech companies worldwide have terminated over 425,000 employees in the past two years, with India witnessing over 36,000 job cuts.</li><li>Global macroeconomic conditions have led Big Tech and startups to implement layoffs, totaling 260,771 employees cut in 2023 alone, as per layoff.fyi data. On average, more than 24 workers lose jobs every hour.</li><li>Retail-tech, consumer-tech, and fintech sectors experienced the highest layoffs. Prominent companies like Paytm, ShareChat, Loco, Adda247, Byju's, and Dunzo have implemented significant workforce reductions, contributing to the elimination of over 10,000 positions in the past two years. The layoffs are attributed to cost-cutting and business restructuring amid economic challenges.</li></ul>

Over 4.25 lakh tech employees lose jobs in last 2 years, 24 workers per hour

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