Kissflow Layoffs: Indian Software Company Cuts 15% of Its Workforce, Around 20 to 25 Employees Due to Product Shut Downs, Annual Performance Reviews

Chennai, June 10:슬롯 머신 사이트 추천Kissflow, an Indian software슬롯 머신 사이트 추천company,슬롯 머신 사이트 추천is슬롯 머신 사이트 추천next in line in the tech industry to lay off its employees from various departments.슬롯 머신 사이트 추천The Kissflow layoffs have슬롯 머신 사이트 추천reportedly affected 15% of the total workforce슬롯 머신 사이트 추천due to the product shutdown and슬롯 머신 사이트 추천amid annual performance reviews.슬롯 머신 사이트 추천The Chennai-based SaaS firm슬롯 머신 사이트 추천is known for its no code, low-code application development platform and other슬롯 머신 사이트 추천management products and services.슬롯 머신 사이트 추천

According to various reports, Kissflow has implemented layoffs in슬롯 머신 사이트 추천departments like marketing, sales, and product development, affecting 15% of its workforce.슬롯 머신 사이트 추천The슬롯 머신 사이트 추천company would reportedly lay off around 20 to 25 employees from these departments go.슬롯 머신 사이트 추천Moneycontrol슬롯 머신 사이트 추천 that Kissflow founder and CEO Suresh Sambandam confirmed that슬롯 머신 사이트 추천the슬롯 머신 사이트 추천company laid off these people because it was moving away from "land-motion procurement" to expand motion. He further mentioned that it was done to boost customer acquisition across its슬롯 머신 사이트 추천multiple products.슬롯 머신 사이트 추천Paytm Layoffs 2024: Parent Company One97 Communications Limited Cuts Undisclosed Numbers of People Amid Restructuring, Facilitates Outplacement.슬롯 머신 사이트 추천

The슬롯 머신 사이트 추천reports mentioned that Kissflow had슬롯 머신 사이트 추천over 400 employees before the announcement of layoffs in슬롯 머신 사이트 추천the past two months. Previously, the SaaS슬롯 머신 사이트 추천firm fired below five employees from India, the United States and the UAE. Suresh Sambandam said that 90% of the laid-off employees had already been placed in the company, and the remaining 10% would슬롯 머신 사이트 추천soon be placed.슬롯 머신 사이트 추천

The employees affected by the Kissflow layoffs were also paid severance. Moneycontrol said that슬롯 머신 사이트 추천the layoffs were a result of a slowdown due to macroeconomic conditions. It슬롯 머신 사이트 추천highlighted that슬롯 머신 사이트 추천many Software as a service (SaaS) firms슬롯 머신 사이트 추천were hit by AI.슬롯 머신 사이트 추천Further, it said that SaaS startups were슬롯 머신 사이트 추천cautioned to슬롯 머신 사이트 추천upgrade and adopt슬롯 머신 사이트 추천artificial슬롯 머신 사이트 추천intelligence, particularly GenAI,슬롯 머신 사이트 추천in their operations.슬롯 머신 사이트 추천

Moneycontrol mentioned that슬롯 머신 사이트 추천Upekha, a SaaS accelerator, shared a report about Series A investments (around $5 million) that might see a significant dip.슬롯 머신 사이트 추천The report emphasised that the슬롯 머신 사이트 추천stringency in metrics,슬롯 머신 사이트 추천along with LLMs (large language models), could슬롯 머신 사이트 추천also have a huge impact.슬롯 머신 사이트 추천Microsoft Layoffs: Tech Giant Reportedly Lays Off 1,000 Employees in These Two Units; Check Details.슬롯 머신 사이트 추천

Kissflow슬롯 머신 사이트 추천Software Company -슬롯 머신 사이트 추천History, Work and Other Details슬롯 머신 사이트 추천

Founded in 2012 by슬롯 머신 사이트 추천Suresh Sambandam, Kissflow is a software company known for its 'Kissflow Work Platform'. The reports said that the슬롯 머신 사이트 추천cloud-based no-code and low-code work management product provider had been offering its products to 160 countries and regions, including the US, Dubai, India, and others. OrangeScape-owned Kissflow offers슬롯 머신 사이트 추천application solutions, workflow management, and case management. Despite being operational for nearly 12 years, the SaaS company remained bootstrapped. The Kissflow CEO further said that the company's valuations did not bounce back and was not in a hurry to raise funds. He mentioned that when the market would be suitable and the valuations correct, Kissflow would raise funds.

(The above story first appeared on LatestLY on Jun 10, 2024 06:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).