New Delhi, November 7: Artificial intelligence (AI) service software provider Freshworks has announced a workforce reduction of 13 per cent to streamline its operations, affecting at least 660 employees worldwide. In a stock exchange filing on Nasdaq, the Chennai/US-based company said that in November 2024, its committed to a restructuring plan to better align the company's talent with its strategic priorities and to improve operating efficiency.

슬롯사이트œThe company estimates that this will result in approximately 13 per cent reduction in headcount and approximately $11 million to $13 million in charges in the fourth quarter of 2024, consisting primarily of cash expenditures for separation-related payments, employee benefits and related costs,슬롯사이트� the filing read.슬롯 머신 사이트 추천Sharan Hegde-Led 1% Club Announces Layoffs, Slashes 15% Workforce; Finfluencer Cites AI Driven Cost Savings for Job Cuts/

The company expects the plan will be substantially complete by the end of the fiscal year ending December 31, 2024. 슬롯사이트œWe began by combining teams focused on Customer Experience (CX) products, including support, sales, and marketing, and reallocating people and investments to prioritize our fastest growing Employee Experience (EX) business. These decisions were made thoughtfully and carefully to set a strong foundation for our future,슬롯사이트� said Dennis Woodside, CEO of Freshworks, in the stock exchange filing.

For the quarter ending September 30, Freshworks슬롯사이트� revenue increased 7.16 per cent to $186.57 million from $174.1 million in last quarter. During the period, net losses increased by 49 per cent to $29.96 million, compared to $20.1 million in the previous quarter. Freshworks expects to close Q4 with revenue between $187.8 million and $190.8 million, reflecting a 17-19 per cent year-on-year growth.슬롯 머신 사이트 추천iRobot Layoffs: US-Based Robotics Company Cuts 16% of Its Workforce in Latest Round Amid Restructuring, Total 50% This Year.

In June this year, the company acquired all outstanding shares of Device42, an IT asset management company. The total purchase price consideration is $238.1 million, which consists of $225.3 million in cash paid, including $11.4 million of cash acquired, $8.9 million in common stock issued, and $3.9 million in assumed and converted stock option awards. Girish Mathrubootham, the founder of Freshworks, started the company in Chennai in 2010 and transformed it into a major force in the SaaS industry.

(The above story first appeared on LatestLY on Nov 07, 2024 01:46 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).