Freshworks announced on November 6, 2024, that it planned to reduce global headcount by about 13%, affecting approximately 660 employees. CEO Dennis Woodside said the business was profitable when the decision was made. Those statements are not necessarily contradictory: the company described a strategic reallocation, while later full-year results showed positive non-GAAP operating income but a GAAP operating loss.
What Freshworks announced in November 2024
In an employee message dated November 6, 2024, CEO Dennis Woodside said, “We’ve made the difficult decision to reduce our global headcount by approximately 13%, impacting about 660 employees.” The figure described planned job impacts; company sources cited here do not establish a final separation count or a breakdown by role or geography. Freshworks’ employee message framed the announcement as a global headcount reduction.
The announcement came in the context of Freshworks’ Q3 2024 earnings call. It was not part of the Q4 results published in February 2025.
Why Freshworks said it was cutting jobs
Freshworks said its board had asked Woodside to assess the company’s strategy. The review identified Employee Experience (EX), artificial intelligence (AI), and Customer Experience (CX) as priorities. According to the company, the changes included combining some CX product teams, shifting investment toward EX, and simplifying operations. Freshworks said it expected the moves to support growth and more efficient, scalable operations. These are the company’s stated reasons, not independently established causes.
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On the earnings call, Freshworks said the cuts were intended to focus the business on EX, AI, and CX, accelerate growth, make resources available for reinvestment, and simplify how the company worked. It said the action would “help us accelerate our growth, free up resources for reinvestment, and simplify the way we work.”
How the job cuts fit the earnings claims
Woodside said in the November 6 employee message, “We’re making these changes while our business is profitable and our AI-powered products are providing increasing customer value.” That was his description of the business at the time of the workforce decision. It should not be read as a claim that Freshworks reported a GAAP profit for all of 2024.
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The company’s later full-year 2024 report showed revenue growth and positive non-GAAP operating income, alongside a substantial GAAP operating loss. GAAP and non-GAAP figures use different accounting bases, so describing the year simply as “profitable” obscures an important distinction.
| Period or announcement | Revenue | Operating result | How to read it |
|---|---|---|---|
| November 6, 2024 Q3 call: Q4 2024 forecast | $187.8 million–$190.8 million | Not stated in the cited guidance | Forward-looking Q4 estimate, not an actual result. |
| November 6, 2024 Q3 call: full-year 2024 forecast | $713.6 million–$716.6 million | Not stated in the cited guidance | Forward-looking estimate at announcement time. |
| Fiscal year 2024, reported in 2025 | $720.4 million, up 21% year over year | $(138.6) million GAAP operating loss; $99.1 million non-GAAP operating income | Actual full-year results; the two operating figures are on different accounting bases. |
| Fiscal year 2025, reported in 2026 | $838.8 million, up 16% | $13.2 million GAAP operating income; $178.0 million non-GAAP operating income | Later actual results, not the financial position when the 2024 cuts were announced. |
The November 2024 call also estimated $11 million to $13 million in Q4 2024 charges and $12 million to $14 million in cash use related to the workforce action. Those were estimates at announcement time; they should not be presented as final realized costs. Freshworks reports its non-GAAP measures separately from U.S. GAAP in its fiscal 2024 results and fiscal 2025 results.
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Freshworks announced another reduction in May 2026
The 2024 action is not the company’s latest announced workforce reduction. On May 5, 2026, Woodside announced a separate cut of approximately 11%, or about 500 employees. Freshworks cited overlaps from organizational changes, a flatter product and engineering structure, centralized functions, and using technology and AI for some manual tasks and handoffs. The company also described support for departing employees, including tenure-based severance, Q1 bonuses, extended healthcare coverage and U.S. COBRA premiums, extended access to Spring Health employee assistance, and career and job-placement services; terms vary by location. This later announcement is separate from the November 2024 reduction.
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