Indian software company, Zoho, has reportedly decided against layoffs but has implemented a hiring freeze for engineering roles and reduced marketing spending amid global macro headwinds. The company will, however, continue to recruit selective customer-facing roles. Zoho, which specialises in software-as-a-service (SaaS), has also announced plans to invest in mid-market and enterprise segments. The company has achieved a 65% compound annual growth rate (CAGR) across its global mid-market and enterprise segments in the past three years. While Zoho’s Praval Singh acknowledges that economic shifts pose a challenge, he remains confident that Zoho solutions for cost and value optimisation are even more relevant during such times. The company currently serves over 90 million users across more than 600,000 businesses.
Zoho halts engineering hires, continues selective recruitment for customer-facing roles
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