SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 04 May, 2023  

startup.9.thmb.jpg Hiring for more than Rs 50 lakh per annum jobs in Indian startups down by 80%

   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 04 May, 2023
Hiring in senior roles at Indian startups (CTC greater than 50 lakh per annum) went down by around 80 per cent across new-age tech platforms in the first quarter of 2023 as compared to same period last year, continuing the pattern of declining hiring amid a funding winter, a report showed on Thursday.

The e-commerce and edtech sectors saw significant impacts, with hiring plummeting by 93 per cent and 84 per cent, respectively, according to the report by LONGHOUSE Consulting, an executive search and talent advisory firm.

"The hiring scenario in the startup ecosystem in Q1 will be similar in the following two quarters as well. There will be ongoing loss in senior positions with high-paying jobs," said Anshuman Das, CEO and Founder, LONGHOUSE Consulting.

Growth stage and late-stage start-ups will continue to be badly hit, although early-stage and Pre-Series A start-ups are projected to hire.

"EV, healthcare, AI/ML, fintech and manufacturing early-stage start-ups in the series A and B levels are anticipated to increase the hirings with a few roles open for senior positions," he added.

However, the startup ecosystem will witness a surge in more seasoned entrepreneurs who are launching their second or third ventures as well as seasoned executives who are switching to entrepreneurship.

"The current start-up slowdown will fuel more entrepreneurship than impact it negatively," said Das.

Indian startups raised a total of $2.8 billion in funds in the first quarter of 2023, a massive 75 per cent decrease compared to the same period in the previous year ($11.9 billion), as rising inflation and interest rates continue to impact investments significantly amid a deepening funding winter.

There were no new unicorns created in the January-March period, compared with 14 unicorns in Q1 2022, according to a recent report by Tracxn, a leading global market intelligence platform.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter