Startups slash more than 17,000 jobs in the first half of 2023 amid severe funding crunch – Business Today

As the startup ecosystem grapples with a severe funding crunch, layoffs have continued in the first half of 2023. According to estimates by workforce and skilling solutions firm CIEL HR, more than 70 startups have been forced to downsize their operations, affecting over 17,000 employees during this period. As the startup ecosystem grapples with a severe funding crunch, layoffs have continued in the first half of 2023.