[Context]: The COVID-19 pandemic has disrupted the global market and workplace landscape. As a response, hybrid work situations have become popular in the software business sector. This way of working has an impact on software companies.

[Objective]: This study investigates software companies' responses to hybrid working. [Method]: We conducted a large-scale survey to achieve our objective. Our results are based on a qualitative analysis of 124 valid responses.

[Results]: The main result of our study is a taxonomy of software companies' impacts on hybrid working at individual, team and organisation levels. We found higher positive responses at individual and organisational levels than negative responses. At the team level, both positive and negative impacts obtained a uniform number of responses.

[Conclusion]: The results indicate that hybrid working became credible with the wave of COVID-19, with 83 positive responses outweighing the 41 negative responses. Software company respondents witnessed better work-life balance, productivity, and efficiency in hybrid working.