Zoho Founder Criticizes Freshworks' Layoffs and Buyback Amidst Profitability

• Zoho's Sridhar Vembu criticizes Freshworks for layoffs and stock buyback despite having $1 billion cash.
• Vembu questions Freshworks' lack of vision to invest $400 million in new business lines.
• Freshworks announced layoffs of 660 employees, a move that boosted its shares by 28%.
• Vembu emphasizes Zoho's commitment to customers and employees over shareholders.
• Freshworks and Zoho have a history of conflict, including a lawsuit over stolen confidential information.

Source: Moneycontrol