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SaaS founders are grabbing talent amid tech layoffs

Economic Times

Economic Times · 2y ago

SaaS founders are grabbing talent amid tech layoffs

Despite a funding slowdown, enterprise software and SaaS startups are actively hiring in a competitive job market. Access to talent across engineering, product, sales, and marketing functions has increased. Candidates are prioritizing factors beyond just salary, focusing on long-term sustainability and work environment. Mass layoffs by late-stage startups and legacy tech firms have shifted job seekers' preferences. Kapture CX, after its first fundraise, hired 35% of its 220 employees in the last six months, reflecting changing dynamics.

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SaaS firm Freshworks undertakes another round of performance-based layoffs

Money Control

Money Control · 2y ago

SaaS firm Freshworks undertakes another round of performance-based layoffs

SaaS company Freshworks has reportedly carried out another round of performance-based layoffs. The layoffs are said to be part of the company's regular performance evaluation process to ensure the right talent alignment. Freshworks is focused on maintaining a high-performance culture and aims to provide ongoing opportunities for its employees to grow and succeed.

Unavailability of deep tech talent may affect growth of Indian B2B SaaS firms: Report

Money Control

Money Control · 2y ago

Unavailability of deep tech talent may affect growth of Indian B2B SaaS firms: Report

A report by Nasscom and EY highlights that India's SaaS growth may be hindered by a shortage of deep tech talent in areas like AI and ML. The report states that specialized expertise is needed, but recruitment and retention are challenging due to high demand and limited supply. Around 80% of CXOs from leading SaaS firms expressed concerns about talent shortage affecting growth. This follows previous remarks by venture capital firm Accel about India's lacking ecosystem in deep tech.

A comprehensive list of 2023 & 2024 tech layoffs | TechCrunch

TechCrunch · 1y ago

A comprehensive list of 2023 & 2024 tech layoffs | TechCrunch

The tech industry has seen a significant number of layoffs in 2023 and 2024, with big names like Google, Amazon, and Microsoft among those cutting jobs. Layoffs have also affected smaller companies in the fintech and app sectors. The layoffs are largely a result of market pressures and the need for companies to become more efficient in a challenging market. The impact of these layoffs on innovation and the availability of talent for growing businesses is yet to be determined.

Former startup execs bag $101 million in seed funds for new ventures in 2024, up 243% YoY: Report

Economic Times

Economic Times · 2m ago

Former startup execs bag $101 million in seed funds for new ventures in 2024, up 243% YoY: Report

Former startup executives are increasingly launching their own ventures, with operator-led startups raising $101 million in seed funds in 2024, up 243% from 2023, as per a Tracxn report. Factors driving this surge include ESOP buybacks, new opportunities, talent return from the US, and mass layoffs. Operator-founders, known for their pragmatic mindset, are thriving, especially in fintech, insurtech, and sustainability sectors, securing significant investments.

Shiprocket-owned retail SaaS platform Omuni laid off nearly 35% of its staff

Startup News FYI

Startup News FYI · 1y ago

Shiprocket-owned retail SaaS platform Omuni laid off nearly 35% of its staff

Shiprocket's retail SaaS platform Omuni, which the company acquired in 2021, has undergone a restructuring resulting in the layoff of about 60-70 employees, roughly 35% of its workforce. The restructuring primarily targeted tech, product, sales, and talent acquisition teams. Alongside the layoffs, senior management changes are occurring, including CEO and co-founder Mukul Bafna and CTO Sumeet Chandhok's departure. Shiprocket attributed the changes to its focus on building a comprehensive e-commerce enablement platform through partnerships, mergers, and acquisitions. Industry observers speculate on Shiprocket's IPO readiness and the impact of the ongoing restructuring on the company's financial dynamics.

Some of Silicon Valley's biggest names are wading into the battle for AI expertise

Business Insider

Business Insider · 1y ago

Some of Silicon Valley's biggest names are wading into the battle for AI expertise

The fight for AI talent among Big Tech companies is becoming increasingly intense. Investors and the rapid growth of AI products have created a high demand for advanced researchers and engineers, resulting in candidates being offered pay packages of up to $1 million. CEOs and founders, including Mark Zuckerberg, Sergey Brin, and Satya Nadella, are personally getting involved in recruitment efforts. However, retaining top AI talent is proving to be just as challenging as recruiting new talent. Startups are also struggling to compete against the resources and salaries offered by Big Tech companies.

The US Government Is Now the Hottest Tech Employer in Town

Wired · 1y ago

The US Government Is Now the Hottest Tech Employer in Town

The tech job market has been unstable, with many layoffs in the industry. As a result, the US government is now considered an appealing employer for tech workers. Public sector roles are gaining popularity due to perks like pensions and a sense of doing good. The US Department of Veterans Affairs adjusted pay to attract tech talent and has hired over 1,000 people in tech jobs. However, government work can come with challenges such as red tape and slow processes. Despite this, there is an interest in government jobs among tech workers, with many registering for Tech to Gov career events. Smaller government agencies are also making efforts to recruit tech talent.

A comprehensive list of 2023 & 2024 tech layoffs

TechCrunch · 1y ago

A comprehensive list of 2023 & 2024 tech layoffs

The tech industry has experienced a wave of layoffs in 2023 and 2024, affecting both major companies and startups. Layoffs were seen at Google, Amazon, Microsoft, and other well-known tech giants, as well as smaller players in the industry. The layoffs were driven by a combination of market pressures, slow growth, and a shift in focus towards efficiency. The impact of these layoffs on innovation and the availability of talent in the industry remains to be seen.

As Google layoffs continue, a look at Big Tech job cuts in 2025

Economic Times

Economic Times · 3m ago

As Google layoffs continue, a look at Big Tech job cuts in 2025

In 2025, tech companies like Google, Meta, Microsoft, and Apple are continuing layoffs amid AI-focused strategies. Google recently cut 200 jobs in its global business unit, following previous reductions in its Platforms & Devices unit earlier this year. Microsoft plans middle management layoffs in May, while Meta laid off 3,600 staff in February due to performance reviews. Apple also cut roles in its digital services arm in 2024. The trend reflects a broader tech industry downsizing.

Why India's SaaS ecosystem is poised for success in 2024

OutlookIndia

OutlookIndia · 1y ago

Why India's SaaS ecosystem is poised for success in 2024

According to Bain & Company's India SaaS Report 2022, India's SaaS ecosystem is the second largest globally. The country's SaaS sector has thrived due to factors such as pay-as-you-go pricing, low capital expenditure, fast deployment, and scalability. Indian SaaS vendors have excelled in the global market due to factors like financial discipline, access to tech talent, and cost advantages. However, the industry has also faced challenges, such as a correction mode in 2022 and the impact of remote work models. Niche markets, platform suites, security, privacy, and AI are important trends to consider for future growth.

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