Software Company Sprinklr Cuts 4% of Its Workforce Globally, people are losing jobs left and right

One of the software companies in the world based in the US is to lay off 4% of its total workforce. The 4% will see more than 100 workers affected by this decision. The company started the layoff drive the previous week, and it will affect people in India, the US, and other regions. 

The words of Sprinklr spokesman

The layoff is the ongoing economic slowdown, which has become the primary reason why other tech companies lay off their staff. The spokesman told us that it is a hard and correct decision to make if they are to fulfill their long-term success goal. Also, the decision will help them move from capacity-driven to productivity-driven. Due to this decision, they will realign their focus on making things easier to sell and also deliver profitable growth for the company.

"While these decisions are extremely hard to make, it is the right decision for our long-term success as we shift from a capacity-driven to productivity-driven business model," the spokesperson was quoted as saying.

"Our priority is to support our employees with the greatest care and respect, show appreciation for their contributions to Sprinklr, and assist them in their transition. We then will realign with a focus on making it easier to sell and to deliver profitable growth to the business," the spokesperson added.

More about Sprinklr

The software company didn't release the exact number of people affected by the layoff decision. But according to the US Securities Exchange Commission (SEC) filing, the company is said to have 3,245 employees as of January 31, 2022. 

The total headcount at that time shows that 933 workers in the US and 2,312 were based globally, including 1,580 in India. In the last few months, the software company has partnered with companies like Samsung, El Corte, which is Europe's largest department store, and Sitel Group, and all this was to enhance the customer's shopping experiences.

However, the present economic uncertainty in the market is likely to push different companies to cut away some non-essential expenses, which include social media management and marketing, which can lead to a decrease in demand for Sprinklr's services.

Final words on Sprinklr

This is not the first time the company has laid off its employee in the last one year. In July, Sprinklr was said to cut about 50 positions in its global marketing department. Sprinklr's Q3 earnings noted a 32% year-on-year increase in revenue to approximately $127.1 million from $96.3 million a year ago.

The company's operating loss in the quarter totaled $26.3 million from $15.3 million. Its shares traded at about $11.02 per share, with its market cap of $2.87 billion as of Tuesday.

The layoff from different companies started in 2022, when Twitter laid off a large number of employees, Meta also joined, and we saw Amazon, and Hp Inc, among so many others. You can read the stories of our layoff reports HERE. For some job updates that you can apply for, kindly check HERE.