News Formal

ShopBack cuts 195 jobs as CEO admits taking the company in “too many directions”

  • 📰 IndependentSG
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

'Undoubtedly, this is one of the hardest decisions I've had to make in our company’s history,' he said

SINGAPORE: Online cashback portal ShopBack has announced a significant workforce reduction and revealed plans to lay off 195 employees, approximately 24% of its total headcount.

He said, “I made the mistake of pursuing too many directions as a company and expanding our team too rapidly. I take full responsibility for the decisions that have led to this situation.” Mr Chan highlighted the company’s challenges despite concerted efforts to curtail costs since 2022. He explained:

The severance package offered to retrenched employees includes pay for a minimum of two months’ notice period and additional severance pay calculated based on years of service or local statutory guidelines.

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 9. in RU
 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

ShopBack cuts 195 jobs in push for business sustainabilityTemasek-backed online cashback platform ShopBack is available in 11 markets including Singapore, Australia and Hong Kong.
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »