Mass layoffs in Pune IT sector: CEO arrested for cheating as fifth firm shutters in just eight months, up to 5,000 jobs lost

A fifth Information Technology (IT) company in Maharashtra‘s Pune has abruptly shut down in the last eight months, leaving between 700 and 1,000 employees jobless in the latest closure and bringing the total number of IT workers affected across the city to an estimated 4,000–5,000. The most recent collapse, Thynk Tech India OPC Pvt Ltd, based in Hinjewadi, prompted a criminal probe and the arrest of its owner and Chief Executive Officer (CEO), Harshal Thakare, on cheating charges, according to a detailed report of The Indian Express.