New: You can now listen to articles.SINGAPORE: Temasek-backed online cashback platform ShopBack has laid off 195 workers, or 24 per cent of its headcount, in what it said was a push to become more focused and self-sustainable.
Singapore-based ShopBack, also known by its legal name Ecommerce Enablers, offers cashback for purchases made through affiliated merchant programmes. It also provides coupons and voucher codes for customers. "Today is a difficult day for all ShopBackers, and especially so for our Muslim ShopBackers who are also fasting during this period. We recognise the need for everyone to have the time and space to process this news," he said, as he announced a day off for the remainder of Tuesday.Are workers just numbers? Here's what happens behind closed doors when companies retrench
Retrenched employees will be given a package that includes pay for at least two months of their notice period, as well as a month of severance pay for every year of service or based on local statutory guidelines, whichever is higher.