Sprinklr cuts 4% of global workforce amid slowdown
Customer experience firm Sprinklr has laid off roughly 4% of its global workforce — or more than 100 employees — as it realigns its headcount amid the ongoing economic slowdown.
Sprinklr started the layoff drive last week and is cutting its workforce in India, U.S. and other regions, TechCrunch learned from people familiar with the matter and confirmed with the company through an email.
A Sprinklr spokesperson said that the “strategic business decision” affected employees across certain targeted regions, segments and support functions.
“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 said in a prepared statement. “Our first priority is to support our employees with the greatest care and respect, show appreciation for their contributions to Sprinklr, and to 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.”
On February 7, the New York-based firm notified the initial batch of its affected employees. It confirmed to TechCrunch that the decision did not impact any C-level executives.
Sprinklr did not disclose the exact number of employees being laid off due to the decision. The company had 3,245 employees as of January 31, 2022, according to an SEC filing (PDF). Of the total headcount at the time, 933 were based in the United States and 2,312 were based internationally, including 1,580 in India.
In the last few months, Sprinklr has partnered with entities including Samsung, Sitel Group and Europe’s largest department store El Corte to enhance shopping experiences for their customers. However, the current economic uncertainty in the market is likely to push companies to cut back on non-essential expenses, including marketing and social media management, which may lead to a decrease in demand for Sprinklr’s services.
This is not the first time that Sprinklr laid off its employees in the past one year. In July, the company reportedly cut at least 50 roles in its global marketing department.
In its Q3 earnings, Sprinklr reported a 32% year-on-year increase in its revenue to $127.1 million from $96.3 million a year ago. However, the company’s operating loss in the quarter amounted to $26.3 million from $15.3 million.
Sprinklr’s shares traded at $11.02 per share on Tuesday, with a market cap of $2.87 billion.
Sprinklr cuts 4% of global workforce amid slowdown by Jagmeet Singh originally published on TechCrunch