New Delhi, May 6 -- Software company Freshworks announced is set to trim 11% of its global workforce, or roughly 500 job roles, as rapid advances in artificial intelligence (AI) pushes the tech sector towards automation-driven profitability. The layoffs are expected to impact both its India and US operations.

Freshworks is a cloud-based software-as-a-service (SaaS) company, founded in 2010 in Chennai, Tamil Nadu. It provides tools for customer relationship management, IT service management, and e-commerce marketing. Freshworks was one of the first Indian SaaS companies to be listed on the Nasdaq stock exchange.

The announcement comes at a time when the tech sector is grappling with layoffs in the US and around the world, including India...