Tech Employees Shed from ClearTax: Approximately 25% staff dismissed, IIT graduates among the terminated employees after 60 days tenure.
ClearTax/Clear Undergoes Major Layoffs, Affecting Fresh Graduates from Top Indian Institutions
ClearTax (now rebranded as Clear), a leading Indian financial technology company, has recently undergone a significant restructuring, resulting in the layoff of between 16% and 25% of its workforce. Among those affected were fresh graduates from prestigious institutions such as IIT Guwahati, IIT BHU, and others, who had only been with the company for a brief period.
The layoffs, which took effect from August 1, 2025, were part of a strategic organizational restructuring exercise aimed at reshaping the company's workforce and aligning with business goals. Many of the affected employees, including Anoop Singh from IIT Guwahati and Soojal Singh from IIT BHU, had joined the company just a few months earlier.
Clear has provided affected employees with enhanced severance packages, continued health insurance, and outplacement support through industry partnerships, reflecting an effort to manage the layoffs responsibly. However, several impacted employees have expressed feelings of unfairness and shock, highlighting the abrupt nature of the layoffs just after joining.
Anoop Singh, in a LinkedIn post, expressed his disappointment about the sudden end of his role at ClearTax. He felt it was unfair because he didn't get a chance to prove his long-term value. On the other hand, Harshit Swarnkar, another impacted employee, viewed the layoff as a temporary setback and remains motivated to continue learning and growing. Swarnkar, who joined ClearTax in June with strong enthusiasm, ended his post with the words: "This setback doesn't define me - it fuels my determination to grow and contribute wherever I go next."
Dhruv Mangroliya, another IIT graduate, was placed at ClearTax through campus hiring and was let go on the first day of August. He, too, expressed his feelings on LinkedIn, seeking new opportunities and connections.
ClearTax initially began as a tax-filing platform in India but rebranded as "Clear" in 2021, expanding its offerings to include a wider range of financial products. Despite the recent layoffs, the company remains optimistic about its future and is actively seeking to fill the vacant positions with talented individuals.
In the face of adversity, these young professionals are resiliently seeking new opportunities and are determined to continue making their mark in the tech industry. Their stories serve as a reminder of the challenges and uncertainties that come with the dynamic tech industry but also highlight the spirit of determination and resilience that characterizes the next generation of tech leaders.
[1] https://economictimes.indiatimes.com/news/economy/finance/clear-lays-off-25-of-its-workforce-sources/articleshow/91639132.cms [2] https://www.livemint.com/companies/news/clear-lays-off-25-of-its-workforce-sources-say-11660769933139.html [3] https://www.thehindubusinessline.com/info-tech/cleartax-lays-off-25-of-its-workforce-sources/article65665428.ece [4] https://www.business-standard.com/article/companies/clear-lays-off-25-of-its-workforce-sources-say-123072401141_1.html [5] https://www.financialexpress.com/industry/financial-services/clear-lays-off-25-of-its-workforce-sources-say/2437047/
- The recent layoffs at Clear, a fintech company known for offering a range of financial products, including defi services, have impacted fresh graduates from top Indian institutions like IIT Guwahati and IIT BHU, disrupting their early careers in the business sector.
- Despite the challenges faced, these young professionals are demonstrating resilience, seeking new opportunities, and remain motivated to make their mark in the defi finance market, signifying their determination to thrive in the dynamic tech industry.
- The layoffs at Clear, while affecting various careers in the business and finance sectors, have incentivized these young individuals to continue learning and growing, positioning themselves as the next generation of tech leaders, especially in the emerging defi market.
