Nasdaq-listed software-as-a-service (SaaS) major Freshworks has said it has laid off 90 employees, or around 2 per cent of its total workforce, to fuel business growth. In this, about 60 affected employees are from India. The company has a total staff strength of 5,200 people.
“To fuel our business growth, we made organisational changes to create better alignment across the company. We shifted some existing roles in product, marketing and sales to support more critical initiatives and reduced the need for a small number of others – less than 2 per cent of our workforce. Freshworks did not do a company-wide layoff,” Freshworks said in a statement on Thursday.
In an email to employees, its founder and CEO Girish Mathrubootham said this is not a company-wide layoff but rather a structural change. “In all the changes we undertook we have deployed and retained the majority of our teammates, however a few around 2 per cent of 5,200 people or approximately 90 employees for whom we do not have a readily available open position,” Mathrubootham said in the email, according to a Moneycontrol report.
He also said the company is doing everything it can to help impacted employees with transition support, including extended healthcare coverage and outplacement services.
Meanwhile, Chargebee, a San Francisco and Chennai-based software firm, also laid off about 10 per cent of its workforce, or about 142 people, due to tight macroeconomic pressures and to reduce the startup’s accumulated operational debt, said co-founder Krish Subramanian in a LinkedIn post.
Salesforce announced in November that it would lay off about 2,000 employees in order to cut costs. Last month, Zendesk also announced the layoff of approximately 300 employees.
The companies have joined the list of companies that have laid off employees this year. Tech giants Meta, Twitter and Amazon have also laid off employees to cut costs amid difficult macroeconomic conditions globally.
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