Clear lays off around 20% of workforce: Report

Clear, formerly known as Cleartax, has reportedly laid off around 20-25% of its workforce, including freshers who had joined two months ago.

According to a report by Entrackr, citing sources, the move is part of a restructuring exercise by the company.

The company has given standard severance packages to around 145 affected employees.

Storyboard18 could not verify the report independently.

In another news, ecommerce giant Amazon is also overhauling its Wondery podcast studio, and sacking around 110 employees while shifting shows to the audio platform Audible.

Notably, July recorded the highest number of layoffs this year, with 26 companies offering pink slips to more than 24,500 employees.

Companies justified layoffs by calling it organizational realignment or the integration of Artificial Intelligence for some job roles.

Indian IT giant Tata Consultancy Services (TCS) is among the list of global companies that have asked a major chunk of its workforce to exit. TCS said it will be laying of 2% of its global workforce--12,000 employees.

Microsoft cut over 6,000 jobs in May and 300 in June. Chipmaker Intel has also announced to lay off over 5,00 of its workforce across four states in the US.