ShopBack cuts 195 employees in push for sustainability

ShopBack’s layoffs come a month after the company reported a 20% decline in its revenue for the financial year ended March 2023. — The Straits Times

SINGAPORE: Temasek-backed cashback and rewards platform ShopBack has reduced its employee headcount by 24%, or 195 roles, “to become more focused and self-sustainable as a company”.

The announcement was made by co-founder and chief executive Henry Chan at the company’s town hall on Tuesday.