BENGALURU: Fast-growing internet startups with high cash-burn rates have started downsizing staff — after years of ballooning wage bills — on the back of increased investor scrutiny of their money-guzzling business models. Big-name startups that have handed out pink slips recently or are likely to in the immediate future include Oyo, Ola, Paytm, Quikr, Zomato and Rivigo.

ET reported on December 20 that homegrown budget hotels brand Oyo was likely to dismiss 2,000 employees by January this year, and news agency Bloomberg said last week that the hospitality industry disruptor had let go of employees in China as well as 12% of its India staff. Ride hailing firm Ola has cut expenses on employee benefits by 20% to Rs 414 crore for fiscal year 2019 and trimmed 8% of its staff in the last few months, as ET reported earlier. Others like digital payments platform Paytm, too, shed at least…

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