[Scythian]

A source told Tech in Asia that nearly 18% of the 1,100 employees were affected by the layoffs. This translates to staff cuts of about 198 employees.

The development comes after the startup raised US$50 million in a series D funding round in August. In the same month, the firm claimed that its annual revenue and gross profits grew 2.5x over the past 12 months.

[Scythian]

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What do you think these retrenched Workers going to do during X'mas and Chinese New Year?

Maybe with the retrenchment benefits, they should relax and consider taking their families for a 6 month holiday either to Europe or China b4 starting to look for a job.

[Scythian]

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How can these retrenched employees avoid GST hike?

Will SG Govt and MOM provide some cash support?

[Wy:Nox]

Internet company also can close down?

[Ola]

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How can these retrenched employees avoid GST hike?

Will SG Govt and MOM provide some cash support?

Good to have them taste retrenchment as encouraged by Woody

They are lucky that EP Salary criteria is set @ $5k to save the young and fresh workforce

so many of them can get a new job within 2 or 3 mths

Not like mid- career or middle-age who takes 2 or 5 years