SINGAPORE (The Straits Times/ANN): Singapore's home-grown online marketplace Carousell cut 76 jobs on Friday (Dec 6), or 7 per cent of its total headcount, as part of efforts to reduce costs and reallocate resources.
The layoffs were announced by Carousell co-founder and chief executive Quek Siu Rui in a townhall on the morning of Dec 6.
He did not specify the affected units, though a spokesperson told The Straits Times that 46 of the 76 affected roles were based in Singapore.
The remaining cuts were spread across the seven other regional markets that the firm has a presence in, including Malaysia, Vietnam and Indonesia.
The spokesperson said that all affected employees will receive a support package, including one month of salary for every year of service, with a minimum of three months’ compensation.
Other measures include extending medical and insurance coverage for employees and their dependants until June 2025, encashing all paid time-off balances and flexible benefits, and accelerating employee stock vesting options where applicable.
Carousell will also support the relocation needs of its foreign employees in Singapore, and ensure that they are able to serve their full notice, preserving their right to remain in the country unless they choose otherwise.
In a statement on Dec 6, the Creative Media and Publishing Union (CMPU) said it had worked with Carousell to ensure that affected union members and employees are offered fair compensation packages, and provided with the necessary support during their job transition.
CMPU, which is affiliated to the National Trades Union Congress (NTUC), added that NTUC and CMPU will offer job matching and career advisory resources to help displaced workers.
This includes access to a wide network of companies for job matching, NTUC’s Employment and Employability Institute (e2i) for job matching and career advisory services tailored to Singaporeans and permanent residents, and NTUC LearningHub, which provides training and upskilling opportunities for workers seeking to improve their career prospects.
“Affected union members have access to the Union Training Assistance Programme funding to offset training course fees should they require skills upgrading,” it said.
“CMPU will also assist members who may face financial hardship via various assistance programmes.”
Affected workers can visit www.e2i.com.sg to find out more about the career advisory and employment facilitation services by NTUC’s e2i.
Members may also contact CMPU via e-mail at cmpu@ntuc.org.sg or by phone on 6213-8510 for assistance. - The Straits Times/ANN
