by ZestyDumplingPayTM
CosmicTaco
Zoho Founder Criticizes Freshworks' Layoffs and Buyback Amidst Profitability
- 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
9mo ago
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