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Indian startups let go of just 1,602 employees across seven companies between January and April 2025—52 % fewer than the 3,355 roles cut by 20 firms over the same months last year. Analysts attribute the sharp decline to leaner cost structures after two years of austerity and a modest rebound in venture funding, which grew to US $2.5 billion in Q1 2025.
After Unacademy laid off 250 employees, founder Gaurav Munjal reassured stakeholders on X, emphasizing the edtech company's projected growth and profitability. He refuted merger or sale rumors, focusing on long-term vision despite a challenging funding environment. The workforce has reduced from over 6,000 to under 2,000 due to restructuring efforts aimed at achieving sustainable growth. Munjal's clarifications followed a report suggesting Unacademy was seeking a merger or bailout. Support from business leaders like Ola's Bhavish Aggarwal and Oyo's Ritesh Agarwal reinforced Munjal's message. Founded in 2015, Unacademy has raised $877 million, last valued at $3.4 billion, focusing on profitability amid tough market conditions.