Just last year, Indian startups loaded with cash were tripping over each other to recruit people in numbers. This period of excess is unravelling as swiftly as it began. Since February, tech companies have shed 10,000-plus employees to cope with the funding squeeze. The layoffs are far from over. 

Udaan, last valued at over $3 billion, is the latest unicorn to add to this sombre statistic after Unacademy, Ola and Meesho, among others. The online business-to-business marketplace is in the process of sacking about 800 staffers across the board, including some top executives, three people aware of the developments told The CapTable.