ShopBack lays off 195 employees in push for sustainability

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Temasek-backed cashback and rewards platform ShopBack has reduced its employee headcount by 24 per cent, or 195 roles, 'to become more focused and self-sustainable as a company'.

March 20, 2024 1:04 AMTemasek-backed cashback and rewards platform ShopBack has reduced its employee headcount by 24 per cent, or 195 roles, "to become more focused and self-sustainable as a company".

Laid-off employees were offered pay for at least two months of their notice period, and an additional month of severance payment for every full year of service or based on local statutory guidelines - whichever is higher. Visa holders will have their repatriation costs covered, including airfare and a budget for moving expenses, to "ensure a seamless transition back home if that is the option are pursuing", said Chan.

"Ultimately, I decided on a more substantial reduction to minimise the chances of us ever having to do this again."

 

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