Startup Layoff Wave Not Over Yet, These Industries Hit Hardest

Technology & Telecommunications

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Annissa Mutia 20/09/2022 17:20 WIB

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The wave of layoffs in global startup companies continues unabated since the beginning of the year. The food industry has been the hardest hit by mass layoffs.

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The wave of layoffs in global startups continues unabated since the beginning of the year. The food industry has been the hardest hit by mass layoffs.

Citing data from Layoffs.fyi, food sector startups have laid off 11,436 employees since the beginning of 2022. This is a drastic increase from the previous year, which saw 9,766 layoffs. Turkish instant food startup Getir accounted for the largest number of layoffs, with 4,480 employees affected.

The Transportation sector ranks second, with 9,766 employees laid off in 2022. However, transportation startups only laid off 200 employees. This is followed by startups in the health industry (7,348 layoffs), finance (7,436 layoffs), and retail (7,899 layoffs).

For information, at least eight startups have confirmed layoffs in Indonesia this year. The most recent is Shopee.

This Singaporean technology company has also closed its services in Latin America and is reportedly canceling job openings. Shopee announced layoffs in Indonesia as part of its efficiency measures.

(read: 30,000+ Global Startup Employees Laid Off in 2022 (YTD))

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Startup Layoff Wave Not Over Yet, These Industries Hit Hardest

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