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Layoffs in Indonesian tech sector

Straits Times - February 12, 2023

Hariz Baharudin, Jakarta – Indonesia's tech players big and small have not been spared from the global trend of layoffs in the sector. Here are some retrenchments in the past year:


The company announced in November 2022 that it would let go 1,300 employees, including in Singapore, to curb costs and reach financial self-sufficiency more quickly in a persistently volatile global economic environment. The cuts amounted to 12 per cent of its workforce.


The online brokerage laid off 67 employees in November 2022. Its management voluntarily reduced their salaries, and its founders were reported to have stopped receiving their pay.


The online education platform was reported by several media outlets in November 2022 to have fired "hundreds" of employees. The firm said it failed to predict and anticipate the rapidly developing economic situation. The company, which enables one to search for private teachers and provides services including subscription-based video and live teaching, said in its website that it has more than 22 million users in the region.


Zenius, also an education tech start-up, laid off staff twice in 2022. In May, over 200 people were let go. In August, there were further job cuts but numbers were not mentioned.


The agritech firm said last December that it would be letting go 5 per cent of employees. It offers thousands of products and fresh produce including vegetables, meat and ready-to-eat dishes.

Source: https://www.straitstimes.com/asia/se-asia/layoffs-in-indonesian-tech-secto