CosmicTaco

Zoho Founder Criticizes Freshworks' Layoffs and Buyback Amidst Profitability

CosmicTaco · 2024-11-08T09:49:51.090670+05:30

- Zoho's Sridhar Vembu criticizes Freshworks for layoffs and stock buyback despite having $1 billion cash. - Vembu questions Freshworks' lack of vision to invest $400 million in new business lines. - Freshworks announced layoffs of 660 employees, a move that boosted its shares by 28%. - Vembu emphasizes Zoho's commitment to customers and employees over shareholders. - Freshworks and Zoho have a history of conflict, including a lawsuit over stolen confidential information. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/zohos-sridhar-vembu-flays-freshworks-layoffs-buyback-should-not-expect-loyalty-from-its-employees-12860951.html)

Zoho's Sridhar Vembu criticizes Freshworks for layoffs and stock buyback despite having $1 billion cash.
Vembu questions Freshworks' lack of vision to invest $400 million in new business lines.
Freshworks announced layoffs of 660 employees, a move that boosted its shares by 28%.
Vembu emphasizes Zoho's commitment to customers and employees over shareholders.
Freshworks and Zoho have a history of conflict, including a lawsuit over stolen confidential information.

Source: Moneycontrol