Zoho’s Founder Sridhar Vembu Slams Freshworks’ 13% Layoffs Despite 22% Revenue Growth

Zoho founder Sridhar Vembu criticized Freshworks for laying off 660 employees despite reporting a 22% revenue growth. Vembu condemned the "corporate greed" behind such decisions, calling it a trend imported from the U.S. He also criticized Freshworks' stock buyback and emphasized Zoho's commitment to employees, prioritizing them over shareholders. Vembu argued companies with ample cash should avoid layoffs and instead invest in new ventures.

By Vishal Kumar

Freshworks Cuts 660 Jobs in Global Restructuring to Boost AI and Customer Experience

Freshworks is laying off 660 employees, about 13% of its workforce, as part of a global restructuring aimed at improving efficiency and aligning with key business goals. The changes, which should be completed by December 2024, will cost the company between $11 million and $13 million. The company plans to focus on Employee Experience (EX), AI, and Customer Experience (CX), offering severance and career support to affected employees.

By Avi G

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