By Inc42 Media

SUMMARY

The move was prompted due to product shut downs and annual performance reviews

Before the layoffs, the firm employed over 400 staff

The startup offers cloud-based no-code and low-code work management products

Chennai-based SaaS firm Kissflow has sacked around 45-50 employees or 15% of its workforce across sales, marketing and product development functions. 

As per Moneycontrol’s report, the move was prompted due to product shut downs and annual performance reviews.

The company has confirmed this development to Inc42 Media.

“We let off around 20-25 people because we moved away from land-motion procurement to expand motion, this was done to increase customer acquisition across our products. At the same time, we do annual performance reviews every two to three years, and around 20 people were let go due to this,” Kissflow founder and chief executive officer Suresh Sambandam told Moneycontrol.

Before the layoffs, the firm employed over 400 staff. The reductions occurred over the last two months, affecting employees in India, the US, and the UAE, with fewer than five employees impacted in the US and UAE.

Inc42 Media has reached out to the company for comments on the development. The story will be updated based on the response.

Kissflow, initially launched at Google.io in 2012, was conceived as an MVP (Minimum Viable Product) to assess product-market fit. Positioned as a workflow solution for Google Suite users, it addressed needs like leave approval, tax filing, and insurance claims automation. The startup evolved into a sector-agnostic tool for businesses to integrate operations with Google Suite. 

The startup now offers cloud-based no code and low code work management products. It claims to be used by over 1 Mn users across 160 countries.

As per the report, the company provided severance packages to the employees it laid off and has remained bootstrapped, without raising external funding. 

The SaaS industry is experiencing a significant evolution driven by technological advancements such as generative AI.

The GenAI revolution is poised to reshape the Indian enterprise landscape, with established IT services companies like Tata Consultancy Services (TCS) and Infosys integrating AI capabilities into their offerings. These partnerships signal a shift towards leveraging generative AI to enhance operational efficiency and offer innovative products to customers. 

Moreover, startups like Avaamo are playing a pivotal role in this transformation, with their GenAI solutions being deployed by major enterprises like Wipro, highlighting the growing importance of AI-driven technologies in optimising business operations.

As GenAI adoption gathers momentum, the focus within enterprises is shifting towards leveraging AI to streamline workflows, enhance customer experience, and drive operational efficiency. However, cautious adoption is evident, with companies prioritising data integrity, privacy, and compliance while exploring GenAI solutions.

Source: Inc42 Media