Nasdaq-listed Software-as-a-Service (SaaS) major Freshworks said on Thursday that it has laid off around 2 per cent or 90 of its total workforce, to fuel business growth. Out of this, around 60 affected employees are from India.
“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,” the company said in a statement on Thursday. The company has a total staff strength of 5,200 people.
The company’s founder chief executive, Girish Mathrubootham too termed it as a structural change, rather than a company-wide layoff. In a letter to its employees, Mathrubootham reportedly said that it has retained the majority of its employees and only around 90 employees were laid off. According to the media reports, the company said the impacted employees are supported by Freshworks during the transition phase.
Following the slowdown in the US market, Indian SaaS players came out with various cost-cutting measures, including job cuts in recent times. Several other companies in the sector including Chargebee, Salesforce and Zendesk too had announced layoffs recently.