Tech Layoffs: According to the latest data from layoff.fyi, a website that tracks tech sector job cuts, 1,178 tech companies have laid off 260,771 lakh employees this year globally (as of December 26).
Startups laid off over 28,000 people just in the first three quarters of 2023. This alone was over 50% higher than 2022, when companies let go nearly 18,000 employees.
Shareholders of Think & Learn, the parent company of Byju’s, approved the company’s results for the financial year 2022 during its annual general meeting that was marred by interruptions and protests.
Byju Raveendran, the eponymous founder of edtech titan Byju's, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch.
The former billionaire who had a combined net worth of Rs 30,600 crore along with his family just last year is now worth only a little over Rs 833 crore.