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Freshworks is cutting jobs across different teams as the business software firm tries to rein in costs to meet challenges posed by tough macroeconomic conditions, three sources familiar with the development told YourStory on condition of anonymity.

Two of the sources quoted above said Freshteam, the company’s HR software suite, is being discontinued and will no longer be a part of its product offerings. Some employees from the marketing operations and the customer marketing teams have been asked to leave, while a few others have been told that they will get new roles in the company, they added. 

YourStory is trying to ascertain the teams that have been affected by the layoffs as well as the number of employees losing their jobs. 

Freshworks did not reply to questions sent via email on the reported job cuts at the time of publication. Globally, Freshworks employs over 4,000 with a majority of them working in India.

“They could have waited at least a couple of weeks more to break the news,” said one of the sources quoted above who has been let go by the company. “This comes just as the holiday season is starting.”

The sources quoted above said the employees who lost their jobs are being offered severance pay and health benefits for three months. 

The company, which was the first India-born software-as-a-service (SaaS) to be listed on the NASDAQ a year ago, is the latest to let go of employees as global factors, including high inflation and interest rate hikes, take a toll on growth.

Last month, subscription management software company Chargebee said it was letting go of 10% of its workforce.

This is a developing story and will be updated as and when more information is obtained.