Covid-19 impact: Mass lay-offs, cost-cutting among start-ups, says survey

Topics Coronavirus | COVID-19 | Lockdown

The prolonged lockdown — for over two months — has hit the business of the Indian start-ups and made investors jittery at the same time. 

Start-ups are now resorting to mass lay-offs and cost-cutting, as only a small number of them is funded to sustain till end-2020. 

A recent survey by FICCI and Indian Angel Network among start-up firms, incubators and investors shows, 96 per cent investors witnessed a huge impact on investment decisions and 92 per cent may not invest anymore this year.

 

 

 
Compiled by Arnab Dutta


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel