December 13, 2022: -More tech startups in Southeast Asia laid off workers as macro headwinds widened, dropping, and venture capitalists pushed startups to extend their runways.
The previous week, online marketplace Carousell stated that it was letting go of 10% of its headcount or approximately 110 positions.
In November, Indonesia’s GoTo Group, a merger between ride-hailing giant Gojek and e-commerce marketplace Tokopedia, cut 1,300 jobs or regarding 12% of its headcount.
Both firms cited challenging macroeconomic challenges. There are signs that we are coming to a recession if we are not in one.
Therefore, a Group and another regional firm are downsizing their headcount. According to local media, Sea Group laid off more than 7,000 employees over the previous six months.
“Founders to be prudent by managing costs in this atmosphere to make sure there is sufficient runway till previous 2024,” Jia Jih Chai, co-founder and CEO of Singapore-based e-commerce brand aggregator Rainforest. Chai was prior a senior vice president at Carousell and a managing director at Airbnb.
“There are signs that we are coming to a break if we are not already in one. Hence, customer demand will be slower in 2023,” Chai said.
In a note to Carousell’s workers, CEO Quek Siu Rui acknowledged “critical mistakes” were made. He added that he was “too optimistic” regarding the Covid recovery and thinking about the impact of growing his team too soon.
“The reality is that we were quick to increase our expenses and hire, but the returns took over expected,” said Quek, which adds that there have been cost-cutting measures in the previous few months. Carousell’s leadership is taking voluntary pay cuts.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector
It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.
Talking to Thomas Hundertmark, a senior partner in McKinsey’s Houston office, Darren Woods is chairman and CEO of ExxonMobil made some crucial points and also gave some insights on what the conglomerate was doing in order to save the climate.
Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.
Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.
The activation of the Fallon Two Rock solar farm project has recently bolstered the Californian energy …