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

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.

 

 

 

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Compiled by Arnab Dutta