Indian tech CEO offers jobs to thousands of employees fired by Twitter, Meta, Spotify, more: ‘Come back home’ | The Financial Express

Indian tech CEO offers jobs to thousands of employees fired by Twitter, Meta, Spotify, more: ‘Come back home’

Harsh Jain, has given a public call to Indians who were dismissed – primarily those who are struggling with H1B visa issues – to return to the country. He said these employees could help bring the growth potential of Indian tech companies to fruition.

Indian tech CEO offers jobs to thousands of employees fired by Twitter, Meta, Spotify, more: ‘Come back home’
“With all the 2022 Tech layoffs (52,000+!) in the US, please spread the word to remind Indians to come back home (specially those with visa issues) to help Indian Tech realise our hyper-growth potential in the next decade!” tweeted Harsh Jain

As tech layoffs hit thousands of employees across the globe, especially in the Silicon Valley, the CEO and co-founder of Dream11, Harsh Jain, has given a public call to Indians who were dismissed – primarily those who are struggling with H1B visa issues – to return to the country. He said these employees could help bring the growth potential of Indian tech companies to fruition.

“With all the 2022 Tech layoffs (52,000+!) in the US, please spread the word to remind Indians to come back home (specially those with visa issues) to help Indian Tech realise our hyper-growth potential in the next decade!” tweeted Harsh Jain. He added that Dream Sports is always on the lookout for “great talent, specially with leadership experience in Design, Product & Tech!”

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Falling revenue, fewer advertisers and the funding winter have resulted in tech firms employing severe cost cutting measures and laying off thousands of employees. Meta faced fire for laying off 11,00 employees – about 13% of the tech giant’s workforce. The Facebook-parent has shed almost 70% of its value this year, with its market cap dropping from over a trillion dollars to $255.79 billion. After Elon Musk’s acquisition of Twitter, half of the company’s workforce was let go. Microsoft, Netflix, Zillow, and Spotify have all made many employees redundant and announced hiring freezes to protect bottom lines.

While tech companies abroad are floundering, Harsh Jain boasted of his Indian companies’ profitability, saying, “We at Dream Sports are a profitable, $8 Billion Co with 150 Million users and 10 kickass portfolio companies in Fantasy Sports, NFTs, Sports OTT, FinTech, Sports Experiences.”

Dream11 is a fantasy sports platform, which allows users to create fantasy teams in a variety of fields such as cricket, football, hockey and more, which is then converted to points based on real life gameplay. Dream11 was the first gaming company in India to become a unicorn and founder, Harsh Jain is among the many Indian tech leaders who want to bolster and nurture a domestic tech ecosystem, seeking to bring back skilled talent to India.

The prolific founder has created an association of 35 unicorns and ‘soonicorns’ based in Mumbai, to promote the city as the hub for various sectors such as media, gaming and fintech known as Tech Entrepreneurs Association of Mumbai or TEAM. Companies such as Haptik, BookMyShow, Zepto and Rebel Foods are amongst the members of this organization.

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First published on: 10-11-2022 at 16:31 IST