Thursday, July 25, 2024

Strategic Changes Lead to 11% Layoff at SaaS Startup Kissflow

Chennai-based SaaS startup Kissflow has undergone restructuring. It has reduced 11% of its workforce. About 45 employees have been asked to leave the company. The decision reflects strategic adjustments. It is aimed at optimizing operations amid evolving market dynamics.

Kissflow was founded in 2012 and specializes in cloud-based workflow automation software. It offers no-code and low-code solutions for work management. It earlier employed around 400 people. It executed layoffs in April and May across its offices in India, the US and the UAE.

Founder and CEO Suresh Sambandam said that the recent layoffs are driven by a shift in strategic focus. The company had earlier focused on land-motion procurement, but now it is expanding market outreach. The realignment mainly aims to enhance customer acquisition efforts.

However, it is worth noting here that Kissflow ensured that all affected employees should receive severance packages to support them through the transition. Sambandam emphasized that most of its laid-off employees have secured new positions.

The news of Kissflow comes amidst broader challenges within the global software-as-a-service (SaaS) sector. It has encountered slower growth rates due to rapid digitization after the Covid period. Many SaaS companies are facing intense competition and they are making strategic adjustments. They are executing layoffs and margin cuts.

Industry reports have adjusted their projections downward for the future performance of Indian SaaS startups. The adjustments highlight recalibration in response to evolving market conditions.

Kissflow is also adapting its strategy to align with current market demands. The recent layoffs reflect its proactive approach to sustain growth in the long-run. It has also showcased responsible corporate stewardship by supporting the affected workforce through the transition period.

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