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SaaS startup Kissflow reduces workforce by 11%


SaaS startup Kissflow reduces workforce by 11%

Chennai-based Kissflow reduces its workforce by 11% by letting go of about 45 workers in an organizational restructure.

Cloud-based work management solutions with low-code and no-code are sold by the 2012-founded, bootstrapped firm. About 400 individuals were employed there before the layoffs. Layoffs in the US, India, and the UAE were announced by the corporation in April and May. As a token of appreciation, Kissflow gifted five Series BMWs, each worth Rs 1 crore, to significant workers in 2022.

Kissflow has shifted its focus from land-motion procurement to expanding its business. As a result, they had to lay off around 20–25 employees. This decision was announced by the company's founder and CEO, Suresh Sambandam. After performance appraisals, another twenty or so jobs were eliminated, he claimed. The announcement also stated that all affected employees had received severance pay from the company. Sambandam said that every business strives for efficiency. He also mentioned that 90% of the people who were laid off by Kissflow have already found jobs, and the remaining 10% will do so soon.

After COVID, the software-as-a-service industry has struggled to match the growth it saw in 2021 and 2022. The industry has seen sales cycles slow down, multiple layoffs, and businesses reducing profits to attract and retain customers. SaaSBoomi, a group of entrepreneurs in the SaaS and product industries, recently released research predicting that the enterprise value of Indian SaaS startups will be half of the previously estimated $1 trillion by 2030. It had stated that enterprise value adjustments might not be recovered until 2030.

The $100 billion revenue estimate that Zinnov and Chiratae Ventures had previously made for the Indian SaaS industry in 2026 has been revised to $26 billion.

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