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Chennai-headquartered SaaS firm KissFlow has laid off about 50 employees, across a few functions.
The layoff was attributed to a restructuring of the company’s product strategy and the outcomes of performance reviews.
The layoffs resulted from a strategic decision to stop the land-motion for its Procure-2-Pay (P2P) product, focusing instead on its expand-motion. This change affected several go-to-market (GTM) team members in sales and marketing for P2P.
“This move aims to keep us focused on our primary offering - the Low-Code Platform,” Suresh Sambandam, CEO & Co-Founder of Kissflow, said in a statement.
Performance reviews
In addition, the company also let go of a few individuals as part of its biennial performance reviews. Together, this number was around 10-15 per cent of the total headcount of 350 plus.
“We understand the impact on individuals and have provided severance packages and outplacement assistance. Close to 90% of the affected employees have already secured new jobs,” Sambandam added.
Two years ago, Kissflow gained attention for gifting luxury BMW cars, worth about ₹ 1 crore each, to five senior employees in recognition of their contributions.
Founded in 2012, Kissflow has offices in Chennai, the Middle East and the U.S.
Suresh Sambandam is also the convenor of Dream TN, an organisation co-founded by entrepreneurs, professionals, academics, and civil society members, that claims to work towards achieving a self-reliant Tamil Nadu.
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