Slump hurts, startups go slow on hiring for mid, senior roles
The worsening macroeconomic conditions globally and efforts to bring down costs have led to a slump in hiring across mid-to-senior roles in Indian startups, several industry experts and hiring firms told ET.
Anshuman Das, cofounder and chief executive officer of staffing firm Longhouse Consulting, said there was a 50%-60% dip in hiring of senior leadership roles across startups in India between 2021 and 2022.
“In 2023 as well, the same quantum of dip is anticipated. This is especially clear having seen the January to March quarter trends. The next six months look more dreary as there is going to be a lot of retrenchment rather and reduction of top management roles at startups,” he said.