The Indian startup ecosystem is facing massive shifts in hiring patterns. Startups are doing steep hiring cuts, says the report by RazorpayX Payroll. The hiring of permanent employees reduced by 61 per cent in the last 12 months. However, salary spent on existing full-time workers rose by 64.7 per cent. Still, there is no equal distribution of money. The Indian startup ecosystem has been facing a shortage of funding. This has resulted in massive hiring cuts. Startups now prefer leaner and stronger teams and gig workers. Payments for gig workers have increased 153 per cent since October 2021 .
