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In a scathing critique of rival company Freshworks, Zoho CEO Sridhar Vembu has publicly condemned their recent layoffs, labeling them as "naked greed" and "immoral." This strong condemnation comes amidst a backdrop of tech industry layoffs, with many companies citing economic uncertainty and a need to streamline operations as their reasons for downsizing. However, Vembu has taken a firm stance, declaring that Zoho will not resort to layoffs despite the challenging economic climate.
Vembu, known for his strong ethical convictions, has made it clear that he believes in prioritizing employee well-being over short-term financial gains. He has expressed his deep concern about the impact of layoffs on individuals and families, arguing that companies should be responsible and compassionate in their decisions. In stark contrast to Freshworks' actions, Vembu has pledged to protect Zoho's workforce, emphasizing that the company will weather the storm through cost optimization measures without resorting to job cuts.
The controversy surrounding Freshworks' layoffs has ignited a debate about the ethics of downsizing in the tech industry. While some argue that layoffs are sometimes necessary for companies to survive and remain competitive, others contend that companies have a moral obligation to prioritize their employees' well-being. Vembu's stance against layoffs, coupled with his public criticism of Freshworks, has further fueled this debate, raising questions about corporate responsibility and the impact of economic decisions on individuals.
Source: 'Naked greed': Zoho's Sridhar Vembu blasts rival Freshworks for layoffs