What happened
Dennis Woodside said so in an internal letter as engineering, QA, sales and management roles were displaced.
Attribution and company response
Revenue held, staff cut. The published revenue comparison held or grew — $839m in 2025, up 16.4%. This clears the tracker’s revenue screen; it does not prove AI substitution, completed departures or the absence of financial pressure.
What the figures show
WHO BENEFITS?
Payments to shareholders are documented; gains for workers from this change are not established.
- Business performance
- $839m in 2025, up 16.4%
- Worker pay
- $44,111 median · 2025One year of pay data; no trend established.
- Workforce impact
- 500 · 11%MAY 2026 · Scope of the reported event, not net job losses.
- Where the money went
- $386.3m cash share repurchases2025 · Reported payout; no causal link to AI established.
Two-year history · 8 quarters
Jul 2024–Jun 2026 · USD millions · 5 of 6 measures cover every quarter. Checked 2026-09-22.
Each chart uses its own scale. Financial gains do not establish gains for workers or an effect caused by AI.
| Quarter ended | Revenue | Net profit / loss | Operating cash | Cash investment (PP&E) | Buybacks paid | Dividends paid |
|---|---|---|---|---|---|---|
| 186.6 | -30 | 42.3* | 1.1* | 0* | — | |
| 194.6* | -21.9* | 41.4* | 5.1* | 13.7* | — | |
| 196.3 | -1.3 | 58 | 1.3 | 113.6 | — | |
| 204.7 | -1.7 | 58.6* | 0.4* | 113.6* | — | |
| 215.1 | -4.7 | 63.5* | 1.8* | 159.1* | — | |
| 222.7* | 191.4* | 62.3* | 2.2* | 0* | — | |
| 228.6 | -4.8 | 62.4 | 3.9 | 48.4 | — | |
| 237.4 | 3.2 | 58.5* | 5* | 159* | — |
Consolidated company figures. Acquisitions, disposals, taxes and changes in reporting scope can affect comparisons. This series does not isolate AI effects.
* Calculated by subtracting reported periods: usually cumulative total minus the previous cumulative total, or full year minus nine months for Q4. Monday.com Q1 is half year minus Q2. Click a value for its source; click * for the subtracted period. Some calculations use different filings and may be affected by restatements. Fiscal dates differ between companies; compare the same season a year earlier.
Worker pay remains annual in the compensation table. Missing quarterly pay or headcount is not interpolated. This is financial-history coverage, not a complete assessment of who benefits.
Sources & limits
Revenue is not profit. These figures may cover different periods and do not isolate the effects of AI. Median pay includes more than salary and can change with workforce composition; it does not track raises for the same employees.
Code volume is not code value, and the letter measures neither quality nor maintenance cost. AI was also one factor within a restructuring that merged sales teams and removed management layers.
CEO pay derived from median × ratio.
Allocation evidence: Annual cash-flow figure. Predates the May 2026 cuts; excludes the $400m authorization announced in 2026. Checked 22 September 2026. Allocation source ↗
Executive pay & historical figures
Annual stock awards can make CEO pay and its ratio swing sharply. No fairness rating is assigned to this ratio.
| Year | Median employee | CEO | Named executives, avg. | CEO / median |
|---|---|---|---|---|
| 2025 | $44,111 | $15.6m* | — | 354:1 |
* Estimated from median compensation × reported ratio.
CEO pay derived from median × ratio.
Workforce and outcome context
Freshworks reported about 4,500 full-time employees in 2025, including about 3,600 in India. This is a baseline before the reported 2026 cuts.