Bengaluru-based cloud telephony platform Exotel recently laid off 142 employees, or 15% of its workforce, citing their poor performance, sources told Inc42.
The layoffs took place following a revision in the startup’s performance improvement plan (PIP) policy in November 2022, under which Exotel removed the clause of giving two warnings to employees for below-par performance, one of the sources said.
“Exotel is an employee-first organization and any difficult choice that affects our people is our last resort. Exotel is cash positive & we are experiencing steady growth in an uncertain economic environment. Recently, some members of our team have been affected due to our restructuring efforts (3%) & the mid-year review, business as usual performance improvement planning process (less than 5%),” the spokesperson said.
