Zoho CEO on Freshworks' Layoffs: “This Is Naked Greed, Nothing …
1 day ago · Sridhar Vembu, Founder & CEO of Zoho, has swiped at Freshworks over its latest round of layoffs. Last week, Zoho’s CRM market rival cut 660 roles, trimming its workforce by 13 percent. Freshworks shared the announcement during an earnings call with investors. There, it also revealed “strong” revenue growth of 22 percent year-over-year (YoY).
Freshworks lays off 660 — about 13 percent of its global ... - CIO
6 days ago · The layoffs will cost the company somewhere between $11 million and $13 million for “cash expenditures for severance payments, employee benefits, and related costs” according to a US ...
'Shareholders should come last': Zoho founder bashes Freshworks layoffs …
Nov 7, 2024 · The Salesforce competitor joins accounting big-four KPMG as a major brand to announce layoff this week. Reports on Monday said that KPMG was looking to cut at least 330 jobs, or 4 per cent, of its audit workforce in the US. Last week, the maker of the open-source browser, Mozilla Foundation, announced the layoff of 30 per cent of its workforce.
Bay Area software company cuts 660 jobs to focus on AI
6 days ago · Despite the layoffs, Freshworks remains profitable, reporting a 22% year-over-year revenue increase. In its third-quarter earnings report, the company posted $186.6 million in revenue, up from ...
This is naked greed, nothing less: Zoho’s Sridhar Vembu on Freshworks …
6 days ago · Layoffs in the circumstances I mentioned totally destroy morale,” said Vembu. Meanwhile, on Thursday, the stock price of Freshworks closed at $16.82 on the Nasdaq, up by $3.73 or by 28.5 per cent.
Freshworks Reports “Strong” Growth, Then Lays Off 13% of Its …
Nov 7, 2024 · The decision followed the release of “strong” Q3 results that saw Freshworks achieve 22 percent year-on-year revenue growth. Following the results and layoffs, the vendor saw its share price jump 15 percent. Nevertheless, in an open letter to employees posted on the vendor’s website, Dennis Woodside, CEO of Freshworks, stressed that the ...
Freshworks Raises Annual Results Forecast, to Lay off 13% of Staff
Nov 6, 2024 · US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. ... to Lay off 13% of Staff. ... Freshworks now expects annual revenue to be between $713.6 million ...
Freshworks announces 13% layoffs, $400 Mn stock buyback, and …
07 Nov 2024 11:40 IST. Follow Us. Nasdaq-listed SaaS platform Freshworks has announced a workforce reduction of 13% to streamline its operations, affecting 660 employees globally. Freshworks has more than 5,000 employees across India, Germany, France, the US, the UK, and the UAE, among others. In a stock exchange filing, Freshworks stated that ...
Freshworks asks 660 employees to leave as part of ‘global …
Nov 7, 2024 · This is the third lay-off announced by Freshworks since March 2023, it was with a total of around 875 employees losing their jobs. In March 2023, the company axed 114 jobs and in June this year ...
Tech5: Freshworks announces 13 percent layoff, Capillary said to …
Nov 7, 2024 · Freshworks announces 13 percent layoff and share buyback plan Freshworks is laying off 13 percent of its workforce, which will affect 660 people worldwide.
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