Freshworks’ Chief Product Officer Prakash Ramamurthy Resigns Amid Management Rejig

CHRO and CMO at Freshworks have been shown the door. Employees were informed last evening. Surprised it's not out yet in public yet.

Board has cancelled founders esop options granted at IPO

- Dennis Woodside, the new CEO of Freshworks, is emphasizing IT services management after his first quarter in charge, succeeding founder Girish Mathrubootham in May 2024. - Freshworks' IT services business, led by Freshservice, has an annual run rate of $340 million, making up about 50% of the company's revenue. - The company reported a 20% revenue increase to $174 million for April-June 2024, with net losses flat at $44 million due to ESOP expenses, and maintains a cash reserve over $1 billion. - Freshworks has revised its 2024 revenue projection to $707-$713 million, driven by higher demand for AI solutions, and aims for $1 billion in revenue by 2026. - Woodside plans to invest in product and engineering resources for IT and employee experience solutions, and recently completed a $230-million acquisition of Device42 to strengthen its IT services business. Source: The Arc

Let's examine a snapshot of the Swiggy Engineering VPs' status from three months ago and compare it to their current situation. CTO Dale departed just yesterday. Storefront - Madhu has been promoted to the role of CTO, and we are awaiting the appointment of a new VP. ATS - Ashish is currently serving his notice period. MFP - Piyush has left the company, and Soumya has taken on additional responsibilities. RNG - Nitesh is currently interviewing with other firms. DIP - Soumya is still performing well in their role. DevOps - Anurodh is in charge. Location Intelligence - Pradnya is currently serving her notice period. One potential reason for their departure is the recent devaluation, which has resulted in an unofficial 50% reduction in the value of the ESOPs. Given the minimal salary increases, unless prompt action is taken by the remaining leadership, this ship will inevitably sink! PS The engineers at Swiggy are aware of the alternative interpretation of SOS.

Anyone here or has worked in CleverTap . Know if few people who gave me bad reviews, like the full product team with CPO left in one year during pandemic and lot of senior engineering folks left as well. Recently saw the CEO left too . Any reviews

After a confirmed research, following resignations are happening at Unacademy, resulting in a massive instability in the organisation 1. CHRO 2. COO 3. CTO 4. VP IT & ADMIN 5. CBO ( JM) 6. HEAD OF OFFLINE CENTERS 7. GENERAL COUNSEL 8. IAS COFOUNDER Adding to this, following BU's have been shut 1. Content Growth 2. Coheshve 3. Next Level TRULY SAD TO SEE THE HOUSE OF CARDS FALLING DOWN.

Just wanted to give some updates now that it has been 1 month since the last post 1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 2) There are more people in the pipeline and will get more clarity by month end. 3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered. 4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs. 5) Senior Management Has been asked to take 20% paycuts. 6) Even at Junior level, people have been asked to take pay cuts or resign. 7) Lots of tools used in tech are being removed and AWS subscription has also been revised. Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

A subsidiary of Paytm, it has been hit by a string of exits in Senior leadership in last 6 months CFO: Amit Kapoor, gone Head of Mutual Funds: Nisharg Golash, gone Head of Product: Manish Reddy, gone Head of Growth: Sourav Choraria, gone Head of Marketing: Divya Chakravarthy, moved internally Head of Compliance: Sudhendoo Gandhi, moved internally You can search these people on LinkedIn to verify. This is a result of an increasingly toxic work culture where performers are penalized with more work while slackers make merry. This culture is driven from the top with current senior leadership who haven't left the firm have survived by the virtue of sycophancy. Instead of firing people, they are being asked to resign so that the company is not in news. I've personally seen this in co's rev teams, a new CTO has been hired from within Paytm. Employees are given 'negative ratings' in appraisal, which the CEO called 'an HR experiment'.

Frsh is doing it again. Comment if you know folks who have been affected.