“My entire team of 10 was laid off the same day and all of us are trying to get references, interviews, upskilling, updating resumes and calling ex-colleagues and friends... Time to move on and see what’s next. Here, I have started with upskilling and getting market ready again,” posted Sowmya L Narayanan, a senior business analyst who lost her job in the recent spate of tech layoffs.

Like Sowmya, many other laid-off employees and recent college graduates are looking at upskilling themselves in this tough job environment. Speaking to businessline, Upendra, a student at Vemana Institute of Technology, Koramangala, said he enrolled in an upskilling bootcamp with Great Learning on data science, a field that he wanted to pursue. The course eventually helped him get employed as a data scientist.

A closer look at layoffs  A closer look at layoffs  

According to Mayank Kumar, co-founder & MD at upGrad, the edtech major has noted a 230 per cent increase in enrolments for its bootcamps during the second quarter of FY23 compared with the same period last year. Similarly, co-founder of BYJU’S-owned Great Learning, Hari Krishnan Nair, said, “Bootcamp as a segment has been growing continuously. In the second half of FY23, Great Learning has seen close to 70 per cent jump in bootcamp enrolments compared with the second half of FY22.”

‘Good time’

Other players in the space like Jaro Education and Simplilearn have also seen a similar demand growth for bootcamps. “Amidst the current challenging job environment in India, the demand for upskilling and bootcamp courses among freshers has witnessed an upsurge as young professionals seek to equip themselves with the skills and knowledge to succeed in their chosen fields,” said Ranjita Raman, CEO of Jaro Education.

Adding to this, Kashyap Dalal, co-founder and Chief Business Officer, Simplilearn, said, “We have always seen that when the market is going through a cycle, a lot of people feel it is a good time to upskill. We saw a similar demand in 2012 as well.”