Nasdaq-listed Freshworks holds third round of layoffs, senior executives impacted as well: Report
The total number of employees who got laid off, however, is not known. The company cited performance reviews as the reason behind the move.
Freshworks has reportedly undertaken another round of layoffs, terminating an unknown number of employees, with performance reviews cited as the reason behind the move.
What is, however, known is that several senior-level executives are among those laid off, the Moneycontrol report said.
“The layoffs are more senior-level this time. Senior directors, product managers, and senior presidents of teams were let go. This is also mostly mid-market employees,” said a source to Moneycontrol.
Separately, a person who currently works at Freshworks revealed the Nasdaq-listed Software-as-a-Service firm (Saas) made no formal announcement before executing the job cuts.
“A senior vice president, who sits in the United States, got laid off…there was no announcement from the company yet. Some people left the team WhatsApp groups and later we got to know,” the employee noted.
The layoffs took place across its product, engineering, and go-to-market (GTM) divisions in the US.
Previous layoffs at Freshworks
To cut costs, Freshworks, in December 2022, gave pink slips to 90 staff members or 2% of its then total workforce. In March, another 114 members were relieved from job responsibilities; of these, 90 people were laid off over performance-related issues, while the remaining 24 roles were eliminated altogether.
For days following the March layoffs, there was a ‘tense’ atmosphere at the company, which currently employs around 5,000 individuals globally.