Freshworks said on Tuesday it would cut 11% of its workforce, ​or about 500 jobs, as the business-software company grapples with ‌an industry being reshaped by artificial intelligence.

Shares of ​the company were down around 5% in ⁠extended trading. The cuts are the latest tied to AI in the software sector as companies race to automate work and reshape ‌products around the technology while trying to offset its steep costs. Peer Atlassian, last month, said ‌it would slash roughly 10% of jobs.