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The prolonged funding winter bearing down on Indian startups could leave several companies with bare branches.<\/p>\nThe prolonged funding winter bearing down on Indian startups could leave several companies with bare branches.<\/p>\n
Hiring at startups this year has dropped by 10-50%, according to recruitment companies that hire for startups.<\/p>\n
Recruitment companies Kelly Services India and PeopleStrong peg the drop in startup hiring in the past few months at a less severe 10%. \u201cWith investors now asking companies to focus on profits and cut down on spends, hiring managers are more cautious,\u201d said Thammaiah BN, managing director at Kelly Services.<\/p>\n
There could still be a ray of hope amid all this: The India Skills Report by Wheebox, PeopleStrong and CII in November has predicted that hiring intent in the internet business sector will improve by 5-10% in the later part of this year.<\/p>\n