Zoho Corporation’s founder and CEO, Sridhar Vembu, has highlighted how there has been a slowdown in new order flow in the past few weeks at Zoho. In fact, this is a trend being observed not just at Zoho but at several other companies; he pointed out.
When asked by someone in the same Twitter thread, about the cause, for this fall in demand, who speculated reasons such as India’s neutral stand on the ongoing war crisis and standing against western stalwarts, Vembu disagreed and pointed out a larger concern.
He said, “That is not likely the reason. The EU may be in a recession. The US seems close. Japan is in perpetual doldrums. China is not well. This appears to be a synchronised global downturn.”
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Vembu also alerted that the global environment is increasingly uncertain, and being prepared for it is the best option.
Others also pointed out a similar trend observed.
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Recession in the US
Just a few days ago, in an interview with CBS’ “Face the Nation”, former Goldman Sachs CEO and present Senior Chairman Lloyd Blankfein asked companies and consumers to brace for an imminent recession in the US, saying it’s a “very, very high risk”. He had added that irrespective of whether you run a big company or you are a consumer, one should be very prepared for what is in store.