Zoho’s Sridhar Vembu Calls Out Freshworks’ ‘Naked Greed’ in Layoffs

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

Chennai/US-based tech entrepreneur Sridhar Vembu has heavily condemned Freshworks’ recent massive layoffs with the firm dismissing 660 of its employees, 13% of the company’s global workforce. Vembu, the founder of Zoho says these layoffs are naked greed in contrast to Zoho’s core values of putting customers and employees first.

The job cuts were announced by Freshworks after which the CEO of Vembu took a dig at the rival company, stating that the latter is in the process of laying off about 400 workers in India. He said that there is no reason why a company with $1 billion in its coffers or 1.5 times the annual revenue and still growing at a 20 percent rate should employ such strategies. However, according to Vembu, what Freshworks ought to have done is to use the $400 million it set aside for stock buyback by creating new revenue streams to re-employ its excess staff.

Keep Reading

The essence of Vembu’s criticism is that he believes that organizations should focus on their customers and employees rather than shareholders. The founder of Zoho has deliberately kept his company private, claiming that this helps them do so. He thinks that Freshworks has hurt its employees by mass layoffs despite the fact that the company is in good financial shape and the move will erode employees’ trust and commitment.
Recently witnessed layoffs, including the one by Freshworks, a SaaS firm that originated in Chennai, have given rise to the discussion on the moral right of firing employees even if the company keeps on expanding and remains profitable. Vembu also did not help himself when he was vocal about what he perceived to be naked greed in the tech sector.

About WR News Writer

WR News Writer is an engineer turned professionally trained writer who has a strong voice in her writing. She speaks on issues of migrant workers, human rights, and more.

WR News Writer

WR News Writer is an engineer turned professionally trained writer who has a strong voice in her writing. She speaks on issues of migrant workers, human rights, and more.

Recent Posts

50 Years of Australia’s Racial Discrimination Act – What Does It Really Mean Today?

The 50th anniversary of the Racial Discrimination Act 1975 is one of the highlight events in Australia’s human rights history.…

June 11, 2025

Google Layoffs Ahead? Buyouts Offered to Employees—Know the Details

Reports indicate that Google is preparing to conduct another round of layoffs, this time voluntarily offering exit packages (buyouts) to…

June 11, 2025

The New Career Currency: Why Top Talent Now Demands Both Big Salaries AND Work-Life Balance

The labor market in India is modernizing the expectations for any employment where paychecks were a major consideration, workers now…

June 10, 2025

ITR Filing 2025: Is Landlord’s PAN Mandatory to Claim HRA?

For Assessment Year 2025-26, the Income Tax Department has broadened its disclosure requirements for salaried taxpayers who are claiming House…

June 10, 2025

The New York Fashion Workers Act: Key Impacts for Model Management and Fashion Companies – Details Inside

New York Fashion Workers Act (NYS Labor Law, Article 36) will come into effect June 19, 2025. This legislation makes…

June 10, 2025

Trump Deploys Additional 2,000 National Guard members to Los Angeles, Officials Confirm

President Donald Trump has approved the dispatch of an additional 2,000 National Guard members and 700 Marines to Los Angeles,…

June 10, 2025