ShareChat, backed by Google and Twitter, is among a number of tech firms which have laid off employees.
Indian unicorn ShareChat has laid off around 20% of its workforce in a bid to cut costs amid global headwinds.
The company, which employs around 2,200 people, laid off hundreds of people who were in management roles, financial websiteTech giants such as Meta, Twitter and Amazon have laid off thousands of employees over the past few months,working in the US who are on visas such as the H-1B. Many of them may have to return to India if they don't find another job in time.
Several Indian unicorns are facing pressure from investors to cut costs amid concerns over high valuations and global economic conditions. In December, however, the company shut down its online fantasy gaming platform Jeet11 and laid off nearly 100 employees.
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