Carousell retrenches 76 staff from business & tech departments
Carousell, a household name among Singaporeans, has conducted another round of layoffs, this time affecting 76 staff across the region.
Carousell CEO and co-founder Quek Siu Rui announced the layoffs during a townhall on Friday (6 Dec), reported The Straits Times (ST).
Source: SangHyuk Lee on Facebook
Carousell retrenches 46 S’pore-based staff
The 76 employees affected represent 7% of the homegrown company’s total workforce.
46 of them were based in Singapore, while the rest were from its seven other outposts in the region, including Malaysia, Vietnam and Indonesia.
Those who lost their jobs worked in the business and tech departments, according to a Carousell statement quoted by the South China Morning Post (SCMP).
Affected staff to get at least three months’ salary
A Carousell spokesperson told ST that those affected will receive a support package that includes compensation of at least three months’ salary.
They would get one month of salary for every year of service.
Medical and insurance coverage for them and their dependents would be extended till June 2025, and paid time-off balances and flexible benefits will be encashed, among other measures.
For foreign employees in Singapore, the company will support their relocation needs and ensure they can serve their full notice to remain in the country if they choose to do so.
Source: Carousell
Carousell retrenches staff amid slowdown in consumer demand
In its statement to SCMP, Carousell said the layoffs came amid an ongoing slowdown of consumer demand.
Thus, it decided to make adjustments “proactively” to “ensure the long-term sustainability and operational efficiency” of the group.
Nevertheless, the company would not be changing its strategy in the region as it believed there was “immense growth potential for e-commerce” here.
Union is helping displaced staff
The Creative Media and Publishing Union (CMPU) said in a statement on Friday that it worked with Carousell to ensure fair compensation packages for affected staff.
CMPU has also provided displaced workers with the necessary support, including offering job matching and career advisory resources.
Should they require skills upgrading, they can tap the Union Training Assistance Programme funding to offset their training course fees.
Various assistance programmes are also available to assist union members facing financial hardship.
Carousell previously retrenched staff in December 2022
The latest round of cuts follows Carousell’s axeing of 110 employees, or 10% of its headcount, in December 2022.
Carousell Reportedly Cuts 110 Jobs, Affected Employees To Receive At Least 3 Months’ Salary
At the time, Mr Quek apologised for the cuts, saying he would “take responsibility” for the decisions that have led to them.
He also admitted that he had made several “critical mistakes”, including underestimating the impact of growing the team size too quickly.
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Featured image adapted from SangHyuk Lee on Facebook.
