Bootstrapped SaaS startup Kissflow culls 11% workforce
Kissflow on Monday said it has let go of about 45, or 11%, of its employees as part of an organisation-wide restructuring.
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The Chennai-based bootstrapped startup, founded in 2012, offers cloud-based no code and low code work management products. It had about 400 employees before the layoff exercise.
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Offering CollegeCourseWebsiteMIT xPROMIT Technology Leadership and InnovationVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitThe job cuts took place in India, the US and the UAE across April and May. In 2022, the company was in the news for gifting 5 Series BMWs worth Rs 1 crore each to key staffers in an employee appreciation drive.
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“We let off around 20-25 people because we moved away from land-motion procurement to expand motion. This was done to increase customer acquisition across our products. At the same time, we do annual performance reviews every two to three years, and around 20 people were let go due to this,” Kissflow founder and CEO Suresh Sambandam said in a statement.
The company paid severance to all the affected employees, the statement added.
“Every company is looking to optimise and 90% of people who were laid off are already placed in companies
