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Job losses mount in small startups, unicorns

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Several startups laid off or furloughed employees and contract staff in April and May, besides imposing salary cuts to save cash, with revenues taking a hit Small startups and well-funded unicorns in various sectors such as online food delivery, hospitality and tourism, and mobility, are downsizing or streamlining operations to cut costs as demand remains muted due to the coronavirus outbreak and the ensuing lockdown to contain its spread.

Several startups laid off or furloughed employees and contract staff in April and May, besides imposing salary cuts to save cash, with revenues taking a hit.

Travel and hospitality startups have been hit the most. Bengaluru-based travel startup Flynote has laid off most of its 130-strong workforce citing

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