A year ago, BlueStacks, an Android gaming platform for PC and Mac, was very bullish in the Indian market. As of 2021, the company has over 500 million users worldwide on over 200 sites and has surpassed 1 billion downloads.
“India is an extremely important mobile gaming market for us. Last year, the pandemic caused an increase in the number of gamers around the world, including in India. This led to an almost 100% increase in user base,” Rosen Sharma, CEO of BlueStacks, told IANS last time. year.
However, all is not well in the start-up founded by Sharma, Jay Vaishnav, Harvinder Sawhney and Suman Saraf in 2011. The company has more than 400 people in its global team and has decided to lay off 120 to 150 people . .
This includes nearly 60 Indian employees. Ayushi Nautiyal, the company’s QA engineer, confirmed the mass dismissal in his post on LinkedIn. She had joined the technical team of BlueStacks just three months ago.
Other Indian professionals who have written about the dismissal on the networking platform include affiliate manager Arvind Kumar Yadav, UX designer Rohit Arora and technical engineer Shailesh Raghav. Their posts quickly caught the attention of a cross section of tech-focused companies and recruitment agencies. These include OLX Group, Viacom Media, Zest Money, Byju’s, BizzTm Technology and Increff Software, who have asked those who have lost their jobs at BlueStacks to contact them individually.
Say goodbye, on a call
BlueStacks, which has offices in New Delhi, London, Tokyo, Seoul and Beijing, announced its decision to lay off in a video call this week. Employees of various departments have been notified of the termination of their services. Internal restructuring was the reason cited behind the layoffs.
In a statement to a media company, BlueStacks CHRO Hue Harguindeguy said the company doubled its workforce from 300 to 600 over the course of the year.
last two years. “With the changes in the macro economy, we have had to realign. We are currently working with impacted employees to help them find new jobs and roles,” she added.
According to data compiled by layoffs.fyi, 43,399 startup employees were laid off globally at 342 companies between April 2022 and July 2022. Of these, 5,670, or more than 13%, were laid off by Indian start-ups. In the 2021-22 financial year, 1,440 employees were made redundant at Indian start-ups.
The edtech sector has seen the most layoffs this year, with companies like Unacademy, Byju’s and Vedantu laying off large chunks in recent months. Unacademy laid off 1,150 people in two phases, Vedantu laid off 624, Toppr and Byju-owned Whitehat Jr laid off around 350 and 300 each.