Home International News Why Did E-commerce Platform Carousell Lay Off 110 Employees? Reason Explained! 

Why Did E-commerce Platform Carousell Lay Off 110 Employees? Reason Explained! 

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E-commerce platform from Carousell lays off 10% of staff. This company that is Carousell took this step in order to profit from other retailers. Speaking about Carousell is a consumer-to-consumer service that operates all across Southeast Asia and has many branches of it as well. The company later this week made its decision to cut off its staff by 10 %, Follow Our website TheGossipsWorld Media for the latest updates on Business News!!!!!

E-commerce Platform Carousell Lay Off 110 Employees

E-commerce Platform Carousell Lay Off 110 Employees

And also it was made clear that they are doing it for the profit of the commoners. The news was widespread as this decision was made by a company that is taking steps in order to get others profit. Stay tuned as we covered everything in detail about this company and its new decision to cut off. This Singaporean consumer-to-consumer service platform added on the system that they are going to cut off 10% of staff

Which is 110 employees if considered in numbers. This decision was made in order to cut off the total headcount and an effort to reduce costs amid the challenges that are faced in the market tech industry. This announcement was made in order to cut off the risks that are rising in the market also it was made public this Thursday the 1st of December 2022. This was revealed on the company’s blog

Why Did E-commerce Platform Carousell Lay Off 110 Employees? Reason

Where the CEO of the company Siu Ruiu Quek who is also the co-founder of the service platform released a statement. The CEO of the company added in his statement that he takes responsibility for the decisions that ash ben made and that they are parting the teammates as well. He also added that they are grateful for the employees and the people who joined in the mission and also in this very difficult situation.

Although this decision was announced online, it was unclear which roots or branches will be cut off from or what branch will get affected by it as there are many branches of its all over southeast Asia. It was also not mentioned which units will get layoffs as well. This company operates in many countries like the Philippines, Cambodia, Taiwan, Australia, Macau, Indonesia, Hong Kong, new eland, and Canada.

In the statement that was released by the company’s leader, it was also discussed that they will find ways to move to an inexpensive rental office as well and also stated co-founders, and executive sales, as well as this, will save the budget and reduce their maintenance as the market is going through a crisis, It was also mentioned that instead of cutting off the staff they are taking these steps.

Post-Covid, these decisions were made, due to which CEO Quek added that he was too optimistic and covering up for the loss due to covid was difficult. He also explained in his statement that it is impossible to get back to the course director and the investments as well. The statement also mentioned how the salaries of the employees were affected due to the expenses and also their medical benefits were also cut off them.

It was also added that as the workers were affected the coming three months’ salary will be provided to the workers and also their medical benefits will be provided to them along with insurance coverage until the June of next year. Other than that the company will also look after the payout of all the remaining time of the employees and also provide them with job search support as well. The company also ensured that the employees will be LinkedIn learning memberships as well along with it until the June of next year.  


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