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Impact of Layoffs on Kissflow
Kissflow, a Chennai-based startup that offers cloud-based no code and low code work management products, recently underwent an organizational restructuring that led to a layoff of approximately 11% of its employees. The layoff exercise affected around 45 employees out of the total 400 workforce, marking a significant shift in the company’s operations and strategy.
Let’s delve into the details of this restructuring and its implications on Kissflow and its employees.
The Reason Behind the Layoffs
The founder and CEO of Kissflow, Suresh Sambandam, shed light on the reasons behind the layoffs, citing the need for the company to realign its focus and resources. He explained that the decision to let go of employees was driven by the company’s strategic shift towards expanding its customer base and enhancing product offerings.
- Moved away from land-motion procurement to expand motion
- Increased customer acquisition across products
- Conducted annual performance reviews resulting in layoffs
Severance Packages for Affected Employees
Despite the layoffs, Kissflow ensured that all impacted employees were provided with severance packages as part of the restructuring process. The company aimed to support its employees during this transition and help them navigate through the changes effectively.
Transitioning Affected Employees
Addressing concerns about the impact of the layoffs, Suresh Sambandam reassured that the majority of the employees who were let go have already secured placements in other companies. The remaining employees are also expected to find suitable opportunities in the near future, reflecting the company’s commitment to facilitating a smooth transition for all affected individuals.
Global Impact of Job Cuts
The job cuts at Kissflow were not limited to a specific location, as they were carried out across various regions, including India, the US, and the UAE during April and May. This global restructuring reflects the company’s efforts to streamline its operations and adapt to changing market dynamics.
Employee Appreciation Drive
Earlier in 2022, Kissflow made headlines for its employee appreciation drive, where key staffers were gifted BMWs worth Rs 1 crore each as a gesture of gratitude and recognition. This initiative showcased the company’s commitment to acknowledging and rewarding the contributions of its employees.
Hot Take: Navigating Through Organizational Changes
As a crypto enthusiast, it’s crucial to stay informed about industry developments, including organizational changes within companies like Kissflow. Understanding the impact of layoffs and restructuring can provide valuable insights into the business landscape and help you make informed decisions about your investments in the evolving market.
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