In the context of a funding crisis, startups have laid off around 15,000 employees so far in 2023. These companies will be able to register more layoffs in 2024, as they focus more on efficiency and integrating AI capabilities to reduce costs

Paytm, an Indian online payment company based in Noida, a suburb of Delhi, announced on Monday that it had reduced its operations and marketing team by implementing AI-based automation in its processes. This resulted in a 10 to 15% reduction in staff expenses. The company spokesperson indicated that they are transforming their operations through AI-based automation to improve efficiency, by eliminating repetitive tasks and roles to improve growth and cost efficiency, which will lead to a slight reduction in headcount in operations and marketing