CosmicTaco

Freshworks Announces $400M Buyback and 660 Layoffs

CosmicTaco · 2024-11-07T12:40:13.093215+05:30

- Freshworks has approved a $400M stock repurchase program. - The company is laying off 660 employees, a 13% reduction in workforce. - CEO Dennis Woodside expects higher cash flows from business streamlining. - Despite the buyback, Freshworks will have over $600M in cash for business investment. - Freshworks' Q3 2024 revenue increased by 22% to $186.6M. Source: [The Arc](https://thearcweb.com/article/freshworks-400-million-buyback-girish-mathrubootham-saas-bNDITP1xFKB73ABk)

Freshworks has approved a $400M stock repurchase program.
The company is laying off 660 employees, a 13% reduction in workforce.
CEO Dennis Woodside expects higher cash flows from business streamlining.
Despite the buyback, Freshworks will have over $600M in cash for business investment.
Freshworks' Q3 2024 revenue increased by 22% to $186.6M.

Source: The Arc