The company's Founder and CEO Girish Mathrubootham told employees in an email that this is not a company-wide layoff but "a structural change".
"In all the changes we undertook we have deployed and retained the majority of our teammates, however a few around 2 per cent of 5,200 people or approximately 90 employees for whom we do not have a readily available open position," Mathrubootham wrote in the email.
The CEO said that Freshworks will help impacted employees by providing them healthcare coverage and outplacement services.
"While we have reported a strong quarter, we are not immune to this slower economy. While new businesses picked up, expansion slowed down even as we reduced our growth forecasts and headcount needs," he wrote.
Freshworks joins a growing list of tech companies that have laid off employees amid global macro-economic conditions.
The Nasdaq-listed firm was valued at $12.2 billion after it opened 21 per cent above the initial offering price of $36 apiece in September last year.
Mathrubootham, in interviews with media outlets, highlighted that the IPO created a lot of wealth for its employees as more than 500 of its employees turned crorepatis (millionaires).
He further added that about 70, of these 500 employees, are under the age of 30.
The company was valued at $3.5 billion when it raised $150 million funding from investors like
Founded by Mathrubootham and
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