A severe funds crunch at Indian startups is taking a heavy toll on workers.

Startups fired about 9,200 employees last year, compared with about 5,500 in 2015, according to research platform Xeler8. Snapdeal is in the process of laying off at least 600 employees. Hiring at startups this year has dropped by 10-50%, according to recruitment companies that hire for startups.

But this is not the end of the road for workers. A large number of startups are still hiring.

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