Startups in Asia brace for harsh winter as layoffs keep piling up

Photo by Nick Jones on Unsplash

With crashing stocks and rising inflation, a wave of layoffs seems to be sweeping the startup ecosystem in Asia’s three biggest markets – China, India, and Indonesia.

The year 2022 has been tough for tech companies around the world. Founders have become more cautious in the wake of geopolitical headwinds. With their mega valuations being questioned over the past few weeks, they are now being forced to pull their purse strings and undertake drastic cost-cutting measures to keep their bottom lines intact.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter