New Delhi: Freshworks has announced that it is reducing its global workforce by 13 per cent. Dennis Woodside, CEO of Freshworks made the announcement and the decision will impact 660 employees who will be laid off. According to reports, most of the employees of Freshworks work in India.
Freshworks has more than 5000 employees all over the world and this decision has affected more than 500 people, which is around 12 per cent of the Indian workforce. The decision has affected around 16 per cent of employees in the US. Woodside wrote in a letter to the firm’s employees that there is no good time to take a decision which will affect the lives of people and he deemed it to be his responsibility to be transparent about the decision.
Woodside expressed his gratefulness to those who are going to leave for their important contributions to the development of the company. He also said that when he was made the CEO of the company five months ago, the Board of Directors asked him to assess their strategy and ensure focus on the most critical drivers of the business of Freshworks. It resulted in their three strategic imperatives (AI, Employee Experience business, and Customer Experience business) and gave them a clear view of where the company needs to simplify. The company is realigning its global workforce to focus more on its EX, AI and CX priorities.
In November 2024, the company came up with a restructuring plan to better align its talent with its strategic priorities, and to operate more efficiently. The move is expected to result in $11 million to $13 million in charges in the fourth quarter of 2024. Notably, the company has conducted several rounds of layoffs and management rejig since 2024. The latest move has come as a rude shock to its employees and will impact the lives of hundreds of people.
Freshworks has more than 5000 employees all over the world and this decision has affected more than 500 people, which is around 12 per cent of the Indian workforce. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
