Kissflow, a Software-as-a-Service (SaaS) firm headquartered in Chennai, has laid off 15 per cent of its staff. This move follows product shutdowns and the firm’s annual performance reviews.
As per media reports, the move has affected approximately 45-50 employees across various functions including sales, marketing and product development.
Suresh Sambandam, founder and CEO, Kissflow, confirmed to Moneycontrol that the company has laid off approximately 20-25 employees as part of a strategic shift from land-motion procurement to expand motion, aimed at enhancing customer acquisition across its product range. Additionally, the company’s biennial performance reviews led to the departure of around 20 more employees.
The cuts affected staff in India, the US and the UAE, with fewer than five employees impacted in the latter two regions.
Prior to the layoffs, Kissflow employed over 400 people.
Founded in 2012, Kissflow specialises in cloud-based no-code and low-code work- management products, serving over 10,000 customers across 160 countries. Despite the recent layoffs, Sambandam emphasised that 90 per cent of those laid off have already found new positions, with the remaining 10 per cent expected to be placed soon. Severance packages were provided to those affected.
The layoffs come as SaaS companies globally face challenges due to macroeconomic conditions and the growing impact of artificial intelligence. The firm, which has remained bootstrapped without external funding, is not in a hurry to raise funds, though Sambandam indicated they might consider it if market conditions improve.
In recent times, other SaaS companies, including Nasdaq-listed Freshworks, have also conducted layoffs basis performance reviews and market conditions.
