The economic slowdown is having a negative impact on the customer experience industry as a whole, and Sprinklr is no exception. The layoffs amount to about 4% of its global workforce, which puts pressure on the company to ensure that its products and services are still top-notch. However, despite these challenges, Sprinklr remains committed to providing world-class service to its customers.
TechGround learned that Sprinklr is cutting its workforce in India, U.S. and other regions. The company is reportedly doing so due to a slowdown in growth in these markets and the need to focus on its more profitable markets. Sprinklr has announced layoffs throughout its various regions, with most of the cuts taking place in India and the United States.
According to a spokesperson for Sprinklr, the company made a strategic business decision that affected employees across certain targeted regions, segments, and support functions. The spokesperson declined to provide further details about the decision or its effects on employees. In reaction to the news, some Sprinklr employees are reportedly seeking severance pay and other benefits.
Over the next several months, Sprinklr will be making changes to its organizational structure in an effort to realign the company around productivity and profitability. This will involve separations between management and employee roles, as well as a focus on efficiency rather than capacity. While these decisions are extremely hard to make, they are necessary in order for Sprinklr to continue its shift away from capacity-driven business models into more productive ones. The first priority of the company is always going to be taking care of its employees, who have made a significant contribution over the years.
The decision not to fire any C-level executives raises the possibility that the hack may have been an inside job.
In light of the company’s decision to lay off nearly 3,000 employees, many have questioned the validity of Sprinklr’s strategy. Some believe that the layoffs are indicative of a larger problem with the company’s business model, while others maintain that Sprinklr still has a lot of potential and will be able to rebound.
Sprinklr forecasts that the current economic uncertainty and slowdown in demand for its services will continue into 2015, which may lead to a decrease in Sprinklr’s stock price. However, even as demand for Sprinklr’s services decreases, the company is still seeing growth in its subscription business. This indicates that there is an existing market for Sprinklr’s services even amid a downturn.
It is not clear why Sprinklr laid off so many employees in July, but it may have been connected to the company’s struggles with its global marketing department. In recent months, Sprinklr has been struggling to keep up with the growth of its rivals and has been cutting costs across the board.
Sprinklr is a social media management platform that helps users to share and collaborate on content across social media platforms. It reported revenue increase in Q3 of 32% year-on-year, however operating loss increased by 100% from $15.3 million in Q2 of 2016 to $26.3 million in Q3 of 2017. The blame for this numerical discrepancy has been attributed the expenses incurred for its product launch and marketing campaign for its newly launched collaboration features which resulted in an increase adoption by users but also increased costs associated with managing such a large user base
Earlier this year, Sprinklr announced that it had raised $200 million in a Series D funding round. The company is one of the leaders in the world of employee engagement and social media management, with a platform that allows businesses to manage their social media accounts from one location.
