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Sunday, June 16, 2024

Chennai SaaS company KissFlow lays off 50 employees

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In Short:

Chennai-based company KissFlow laid off 50 employees due to a change in product strategy. They stopped focusing on a particular product and shifted to another, affecting sales and marketing teams. Some employees were let go based on performance reviews, totaling 10-15% of the workforce. The CEO ensured severance packages and most employees already found new jobs. KissFlow, founded in 2012, also gained attention for BMW gifts to senior employees.


KissFlow Focuses on Product Strategy, Restructures Team

Chennai-based SaaS company KissFlow recently made the tough decision to lay off around 50 employees as part of a strategic restructuring process.

Product Strategy Shift

The layoffs were a result of a shift in the company’s product strategy, with a focus on expanding their offerings rather than continuing with their Procure-2-Pay product. This change impacted several team members in sales and marketing for P2P.

“This move aims to keep us focused on our primary offering – the Low-Code Platform,” said Suresh Sambandam, CEO & Co-Founder of KissFlow.

Performance Reviews Impact

Additionally, a few individuals were let go as part of the company’s biennial performance reviews, making up about 10-15% of the total headcount of 350 plus employees.

“We understand the impact on individuals and have provided severance packages and outplacement assistance. Close to 90% of the affected employees have already secured new jobs,” added Sambandam.

Company Background

Founded in 2012, KissFlow has offices in Chennai, the Middle East, and the U.S. Suresh Sambandam is also actively involved in Dream TN, an organization focused on achieving a self-reliant Tamil Nadu.

Despite the challenging decisions, KissFlow remains committed to their mission and looks forward to the opportunities that lie ahead.

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