Tech-focused skilling and hiring startup HackerEarth has laid off over 8% of its employees across multiple verticals. According to its LinkedIn page, the startup employs over 630 people, so the number of affected employees could range between 45 and 50. However, according to the Mint report, this figure is closer to 17.
When contacted, the startup confirmed that it had laid off 17 employees, but did not specify how many were affected in India. However, it stated that these decisions were made due to unfavourable macroeconomic conditions in the US market, such as the economic downturn, funding crisis, and impending recession. To overcome challenges and keep the business afloat in the long term, the startup has also implemented pay adjustments across the organisation.