Billing software company Chargebee laid off approximately 10% of its workforce

Share via:

Billing software company Chargebee laid off approximately 10% of its workforce, citing macroeconomic factors and warning that the global economic environment remains uncertain.

In a LinkedIn post late Wednesday, Chargebee Co-founder and CEO Krish Subramanian stated that the “difficult decision was driven by external market forces as well as our need to address the operational debt we have accumulated in the last few years.” The layoffs at Chargebee are a sign of trouble for the domestic software-as-a-service (SaaS) sector, which was thought to be more resistant to global economic headwinds, even as edtech and other sectors saw massive staff cuts. Chargebee has offered the laid-off employees three months of pay, three months of extended medical benefits, outplacement career services, and a time extension to exercise stock options granted under their stock incentive plan.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

Popular

More Like this

Billing software company Chargebee laid off approximately 10% of its workforce

Billing software company Chargebee laid off approximately 10% of its workforce, citing macroeconomic factors and warning that the global economic environment remains uncertain.

In a LinkedIn post late Wednesday, Chargebee Co-founder and CEO Krish Subramanian stated that the “difficult decision was driven by external market forces as well as our need to address the operational debt we have accumulated in the last few years.” The layoffs at Chargebee are a sign of trouble for the domestic software-as-a-service (SaaS) sector, which was thought to be more resistant to global economic headwinds, even as edtech and other sectors saw massive staff cuts. Chargebee has offered the laid-off employees three months of pay, three months of extended medical benefits, outplacement career services, and a time extension to exercise stock options granted under their stock incentive plan.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

More like this

Google search ads spotted in compromising placements

 ​ Research delving into a less visible component of Google’s...

Google search ads spotted in compromising placements

 ​ Research delving into a less visible component of Google’s...

Google search ads spotted in compromising placements

 ​ Research delving into a less visible component of Google’s...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!