Nasdaq listed company, Freshworks, has announced a 13% layoff of its workforce in order to focus on three key aspects - customer experience products, artificial intelligence, and employee experience business. The decision, under the leadership of CEO Dennis Woodside, will impact 660 employees globally and the company has stated that employees will receive financial, medical, and career support during the transition. Woodside further emphasized the company's profitable business and increasing customer value through its AI products.
Freshworks Announces Layoffs Amid Shift in Focus
Background
Freshworks, a Nasdaq-listed customer experience software company, has announced plans to lay off 13% of its workforce, affecting approximately 660 employees globally. The decision, led by CEO Dennis Woodside, aims to streamline operations and align the company's focus on key areas:
Key Information
CEO Statement
Dennis Woodside, CEO of Freshworks, stated that the company remains profitable and is investing heavily in its AI products to increase customer value. He emphasized the need for streamlining to enhance efficiency and focus on core priorities.
FAQs
1. Why is Freshworks laying off employees? The layoffs are part of a strategic shift to focus on key areas of the business and improve operational efficiency.
2. Which departments are affected by the layoffs? The layoffs will impact employees across the globe and various departments, but the specific teams or functions have not been disclosed.
3. What support is Freshworks providing to affected employees? Employees will receive financial support, medical benefits, and career transition assistance during the transition period.
4. Is Freshworks still a profitable company? Yes, Freshworks remains a profitable business and is investing heavily in its AI products to enhance customer value.
5. Has Freshworks laid off employees in the past? This is not the first time Freshworks has laid off employees. In 2022, the company laid off approximately 250 employees or about 4% of its workforce.
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