Appraisal Time? No, FarEye Lays Off 250 Employees: Report
NDTV
Software-as-a-service provider FarEye has laid off around 250 employees at the time of their appraisal, according to industry sources.
Software-as-a-service provider FarEye has laid off around 250 employees at the time of their appraisal, according to industry sources.
When contacted, FarEye said softness in market conditions and restructuring of the team led to reduction in team size.
“With the softness in market conditions, in the year ahead, we are focusing on our efforts and aligning resources in areas that drive maximum value for our customers while addressing their key challenges around operational efficiencies, cost optimization, and delivery experience," FarEye CEO and co-founder Kushal Nahata said in a statement.
He said the company is strengthening core competencies, deepening focus on product differentiation and automation, and optimizing the effort required to manage operations.
