The last 2 years 2020-21 have been tough for especially startups. Many startups closed down during that time. Those who survived are probably still reeling under financial burden.
Last year wage costs have risen a lot due to the great resignation drive. Also desperate hiring ended up with companies hiring not so good talent. This has also lead to increase in wage costs & poor talent.
Entrepreneurs may have overestimated the economic recovery which has still not happened.
The outlook for 2022-23 does not look great. The Russia Ukraine war has impacted economic & global stability. Fuel costs rising is just one of the outcomes, which will increase inflation. Rising costs are not good for startups.
All these factors have perhaps played a role.
What do you think?
Do you see more layoffs coming?
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