SaaS startup Exotel, a Bengaluru-based cloud telephony platform, has laid off employees as part of a business restructuring and a revision to its performance improvement plan (PIP) policy. While sources indicated around 142 employees, or 15% of the workforce, were affected, the company stated that 80 employees were impacted, with 35 due to restructuring and 45 from the PIP process. The layoffs, which occurred following policy changes in late 2022, were attributed to performance issues and organizational adjustments, with no severance paid for performance-related terminations. Amidst these changes, Exotel, which is cash positive and eyeing future growth including a potential pre-IPO round, emphasized that such decisions are a last resort for the employee-first company.
