Freshworks is undergoing significant layoffs, cutting 13% of its workforce, predominantly in India, as part of a strategic restructuring to focus on AI and employee/customer experiences.
CEO Dennis Woodside expressed remorse over the layoffs, emphasizing their heavy impact on lives and committing to treating affected employees with respect and support during transitions.
Despite the layoffs, Freshworks raised its revenue and profit estimates, indicating a contradictory move by cutting workforce while also investing in share buybacks, suggesting positive future growth.
While Freshworks is not generally profitable, its positive non-GAAP income points to a complex financial reality, typical among tech companies, utilizing alternative measures for profitability.
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