Suraj logged on to the Slack online platform in September at the cryptocurrency start-up where he worked and realised the number of employees in the channel had plummeted. Hours later, he too was abruptly blocked.
“I had been promoted and I was due a hike,” said the 40-year-old senior business development executive who lives in India’s tech capital Bangalore and who asked not to use his real name to avoid damaging future employment chances.
Suraj is one of up to 25,000 people to lose their jobs in India’s previously booming tech sector this year, according to estimates by specialist recruiter Xpheno. A slowdown in funding has slashed budgets and competition from established IT services companies has reduced.
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