Zendesk announced its decision to cut 8 percent of jobs, representing about 320 employees, in the wake of slowdown in business.
“Our customers are navigating massive shifts in how they do business, including increased pressure to deliver profitable growth and leveraging fast-advancing technology like generative AI,” Zendesk CEO Tom Eggemeier told employees in an email.
“To best serve customers, we have to sharpen our focus and wherever possible, direct our talent and resources to our highest priorities including maturing how we go to market and building new products and capabilities that deliver tremendous value,” Tom Eggemeier said.
Each impacted employee will be eligible for three months of base salary/on-target earnings plus one week for each full year of service, job search resources, a prorated portion of annual bonus payable at target, 60 days of vesting cash and health insurance benefit coverage.
In June last year, Zendesk was acquired by a group led by global investment firms Permira and Hellman & Friedman in a $10.2 billion all-cash deal.