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Ashneer Grover speaks out on mass layoffs: See his viral LinkedIn post

Founders perspective: Ashneer Grover on the importance of hiring for the long game

24 January 2023

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Jayashri

India produced 3X more unicorns than China in 2022.png
  • Ashneer Grover, criticized tech companies for mass layoffs, saying he's grateful he never had to

  • Grover suggested that a salary reduction of 25 per cent to 40 per cent can be considered by

  • On average, over 1,600 techies are being fired per day in 2023 globally including in India.

Ashneer Grover’s take on layoffs:


"It’s sad to hear about firings every day. I am thankful that I’ve never had to fire people because of bad markets - because I’ve always hired considerably. As a founder you’ve to think about the long game"; he shared on LinkedIn.


Ashneer Grover, ex-Shark Tank India judge and former BharatPe co-founder, strongly criticized tech companies for their mass layoffs and stated that he was grateful that he never had to fire people due to poor market conditions. Recently, Grover has been in the news for not being part of Shark Tank India

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Grover suggested that a salary reduction of 25 per cent to 40 per cent can be considered by companies to stop mass layoffs.


“I had posted about 25%- 40% salary reduction a while back as an alternative to mass firings. I just don’t get it why founders won’t go down that path. Everything gets repriced: energy, capital, technology. Why not people?”


“Glad I’ve put on myself a max cap of 50 people in the Third Unicorn. People joining me will have to worry only about building and growth – I’ve got my team’s back,” he added.


Many large tech companies, including Amazon, Google, Microsoft, and Meta, have announced mass layoffs. Recent reports indicate that 91 companies have laid off more than 24,000 tech employees in the first 15 days of this month, signaling difficult times ahead.


Globally, including in India, an average of over 1,600 tech employees are being laid off per day in 2023.

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