Kissflow, a Software-as-a-Service (SaaS) company based in Chennai, has reduced its workforce by 15%. The decision comes after shutting down some of its products and conducting annual performance reviews.
Reports suggest that around 45-50 employees across different departments such as sales, marketing, and product development have been affected by this move.
Suresh Sambandam, the founder and CEO of Kissflow, stated to Moneycontrol that the company has laid off approximately 20-25 employees as part of a strategic shift from land-motion procurement to expand motion, aiming to improve customer acquisition across its product range. Additionally, approximately 20 more employees departed as a result of the company’s biennial performance reviews.
The layoffs impacted employees in India, the US, and the UAE, with fewer than five employees affected in the last two regions. Prior to the layoffs, Kissflow had a workforce of over 400 people.
Established in 2012, Kissflow specializes in cloud-based no-code and low-code work management products and serves over 10,000 customers across 160 countries. Despite the recent layoffs, Sambandam emphasized that 90% of those laid off have already found new positions, with the remaining 10% expected to be placed soon. Severance packages were provided to those affected.
The layoffs come at a time when SaaS companies globally are facing challenges due to macroeconomic conditions and the increasing impact of artificial intelligence. The company, which has not received any external funding, is not in a rush to raise funds, although Sambandam indicated they might consider it if market conditions improve.
Recently, other SaaS companies, including Nasdaq-listed Freshworks, have also conducted layoffs based on performance reviews and market conditions.
