Freshworks Announces $400M Buyback and 660 Layoffs

• Freshworks has approved a $400M stock repurchase program.
• The company is laying off 660 employees, a 13% reduction in workforce.
• CEO Dennis Woodside expects higher cash flows from business streamlining.
• Despite the buyback, Freshworks will have over $600M in cash for business investment.
• Freshworks' Q3 2024 revenue increased by 22% to $186.6M.

Source: The Arc