New Delhi, Oct 20 (TIWN) Seventy-eight per cent MSMEs and startups in India have reduced workforce in the last 8 months since the Covid-19 pandemic broke out.

As per a survey by LocalCircles, only 22 per cent startups and MSMEs have the same or increased workforce as compared to the pre-Covid levels.
India's startups and MSMEs ecosystem went through a torrid time due to the Covid-19 pandemic and the following lockdown. With revenues and operations getting impacted for most businesses, many end up cutting costs and some even shut down temporarily or permanently. Per CMIE, 6 million Indians had already lost white collar jobs in the March - August period.