Tech releases in Southeast Asia mount as unprofitable commencement seek to develop their runways

Tech releases in Southeast Asia mount as unprofitable commencement seek to develop their runways

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.

About Us

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.

Recent Posts | Make Profit Not Waste | Stephen Pratt

Supply chain leaders, including VPs, often find themselves making bets with unknown financial consequences. Having started with largely infeasible plans generated by deterministic “one-number” planning systems, compounded by unexpected supply or demand disruptions, they are forced into last-minute adjustments to meet operational and financial goals.

Intelichain | Revolutionary Supply Chain Planning Solutions | Roei Aviram

Unsurprisingly, today’s supply chain faces numerous issues, including sustainability, technology, global economic and political instability, talent management, and supply chain resilience. Advanced forecasting algorithms and predictive analytics are used in supply chain management to help organizations of all sizes make better decisions by providing insights into what’s going on in their business at any given moment and predicting future trends.

GAINS | Empowering Companies to Make the Right Decision | Bill Benton

Ensuring the right products are in the right place and at the right time is critical for companies also dealing with supply chain constraints and a high degree of variability. Uncertainty has become the name of the game and the only way to effectively optimize inventory through continuous, data-driven assessments, planning, and decision-making.

Extensiv | Creating the Future of Omnichannel Fulfillment | Sheridan Richey

Food Huggers, a consumer brand that designs products to reduce waste at home, may be in an enviable position now but before they found Extensiv Order Manager, managing booming orders and staying on top of inventory was a huge operational challenge. The business has inventory spread across multiple geographically distributed warehouses, with orders received via multiple sales channels, including Shopify storefronts and Amazon.

Tech releases in Southeast Asia mount as unprofitable commencement seek to develop their runways