Appsmith, a US and India-based open-source low-code software startup, laid off 35 employees earlier this week, representing about 25% of its workforce. The company attributed the decision to challenging market conditions, a slowdown in business, and a strategic shift toward sustainable growth over rapid expansion. In an internal communication, CEO Abhishek Nayak cited a dip in growth rates and the need for operational efficiency, aiming to build a leaner team focused on revenue and R&D investment. Impacted employees are receiving a two-month severance package, outplacement support, and their office laptops. Appsmith, which raised $41 million in a Series B round led by Insight Partners last July, operates in the enterprise tech industry, providing tools for developers to build custom applications quickly.
