Layoffs hit Chennai-based SaaS company, which once gifted BMW to employees; almost 15% workforce affected

Kissflow, a prominent Software as a Service (SaaS) company, has executed a significant layoff affecting around 15% of its workforce. The company, renowned for providing SaaS solutions to businesses, has remained tight-lipped about the exact number of employees impacted, although reports suggest it could be between 40 to 50 individuals.

The layoffs primarily targeted personnel in the sales, marketing, and product development departments. Reasons cited for the terminations include the discontinuation of certain products and the outcome of the company's biennial performance evaluations. Approximately 20 to 25 individuals lost their jobs due to the strategic shift in the company's procurement focus, while another 20 employees faced termination as a result of the performance reviews conducted every 2-3 years.

This news comes as a stark contrast to the company's earlier gesture of gifting BMW 5 series cars to five senior executives for their exceptional contributions, highlighting the company's transition from prosperity to retrenchment.

Kissflow, which boasted a workforce of around 400 employees, now anticipates a reduction to approximately 350 personnel following the layoffs. The affected employees hail from various locations, including India, the United States, and the United Arab Emirates, with a majority based in India. Despite the setback, the company maintains an extensive global clientele of over 10,000 customers across 160 countries.

Established in 2012 by founder and CEO Suresh Sambandam, Kissflow operates from offices in Chennai, the United States, and Dubai. While the layoffs have undoubtedly rattled the company's internal dynamics, reports indicate that 90% of the affected employees have already secured offers from alternative employers.

Furthermore, Kissflow has assured severance packages for all impacted employees, reflecting its commitment to supporting its workforce amidst the restructuring.