Freshworks, a SaaS firm listed on Nasdaq, recently carried out another round of layoffs in its Indian and US offices. The company clarified that it has not conducted organisation wide layoffs and is still hiring for open positions, but is reviewing organisational efficiencies to prevent duplicated efforts and maintain a strong performance culture.
The layoff is primarily aimed at improving efficiency within the organisation and is not related to any issues resulting from the collapse of Silicon Valley Bank. Freshworks stated that it does not anticipate any spillover impact from the Silicon Valley Bank situation on its internal operations or customers.
The number of people laid off is yet to be ascertained. This development follows Freshworks’ announcement of layoffs three months ago, where it laid off about 90 employees from various teams, citing performance and staffing redundancies due to tight macroeconomic pressures in the software industry. Freshworks currently has a global workforce of around 5,200 employees.
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