Freshworks, a company listed in the American index Nasdaq, has announced a 13% reduction in its workforce. This means that approximately 660 employees are being laid off in the company. The purpose of this move of the company is to improve efficiency and reduce the complexity of teams. Company CEO Dennis Woodside has announced this.
Woodside has said in a letter to employees, ‘Obviously this decision is not good because it is affecting people’s lives and it is my responsibility to provide information about why and how this decision was taken. When I became CEO 5 months ago, I was asked to assess the company’s strategy as well as ensure that the most important aspects of the business were focused on.
He said, ‘We are making changes to our global workforce to focus more on employee experience, AI (Artificial Intelligence) and customer experience related priorities, which will have the biggest impact on our customers.’ The firm has 5,000 employees and has faced layoffs and management changes several times this year.
Freshworks appointed Dennis Woodside as its President in September 2022 and gave him the responsibility of global business operations and strategy. Prior to this, Woodside had served as the Chief Operating Officer of Dropbox. The company had raised more than $1 billion through IPO in 2018.
