Indian-origin CEO addresses 600+ layoffs — ‘not a cost-cutting exercise’

HubSpot, a US IT software company engaging in cloud-based customer relationship management, announced earlier this week that it was reducing its workforce by 7%, nearly 660 employees. Explaining the rationale driving the difficult decision and the business changes coming ahead, the firm’s Indian-origin CEO Yamini Rangan shared a message with HubSpot employees. The note, which has since been published on the company website as well, said that the final call regarding job cuts was approached with “the seriousness and care it deserves.”