Freshworks to reduce staff by 13% in restructuring plan

In a regulatory filing, the company said, “In November 2024, the company committed to a restructuring plan to better align the company’s talent with its strategic priorities and to improve operating efficiency. The company estimates that this will result in approximately 13% reduction in headcount and approximately $11M to $13M in charges in the fourth quarter of 2024, consisting primarily of cash expenditures for separation-related payments, employee benefits and related costs. The company expects that the Plan will be substantially complete by the end of the fiscal year ending December 31, 2024.”