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https://techcrunch.com/2024/05/03/sprinklr-lays-off-more-than-100-employees/
Sprinklr, a U.S. firm offering a customer experience management platform to global brands, has laid off about 3% of its workforce — around 116 people — to realign its customer operations team, the company confirmed to TechCrunch in a statement. The new job cuts come over a year after the company cut about 4% of its headcount in February last year.
The New York-headquartered company, which counts Microsoft, Samsung, P&G and over 60% of the Fortune 100 companies globally as customers, started notifying affected employees in markets including the U.S. and India about its decision on Thursday, TechCrunch exclusively learned and confirmed with the company through an email.
"Sprinklr made the strategic business decision to realign our headcount across our customer operations organization," a company spokesperson said. "While these decisions are hard to make, they reflect the commitments we've outlined to restructure our business to accelerate our go-to-market efficiencies and better serve customers."
The spokesperson confirmed that the job cuts did not affect C-level roles.
Sprinklr did not disclose the exact number of employees being laid off. According to its recent 10K filing (PDF), the company had 3,869 employees worldwide as of January 31. Of the total workforce, Sprinklr had 2,276 employees in India, 787 in the U.S. and 3,082 internationally.
"The restructuring will be done in accordance with local and country laws. This difficult, but necessary, action ensures we are aligned to our prioritized growth areas while supporting customers where they live and operate," the spokesperson stated.
In March, Sprinklr reported a 17% year-on-year increase in its quarterly revenue for Q4 to $194.2 million from $165.3 million a year ago. The company also garnered GAAP operating income of $18.5 million compared to an operating loss of $1.8 million a year ago.
"While we will continue to hire in prioritized areas to support our growth, scale, and long-term success, our first priority is to support employees with the greatest care and respect, show appreciation for their contributions to Sprinklr, and to assist them in their transition. We will then continue our focus on strengthening our foundation, fostering innovation and enhancing our execution to drive value for our customers and shareholders," the spokesperson said.
On Friday, Sprinklr was trading at $12.10 per share with a market cap of $3.30 billion.
Posted In: CXM
