Carousell

Singapore-based e-commerce platform Carousell announced on December 6, 2024, that it is laying off 76 employees, which represents 7% of its total workforce. The company stated this strategic reorganization was a proactive move to adjust its business units to current market realities and reallocate resources to more promising areas, aiming to ensure long-term sustainability and operational efficiency. Approximately 60% of the affected roles are based in Singapore, with the remaining cuts spread across its other regional offices.

Singapore-based online marketplace Carousell laid off 110 employees on December 1, 2022, representing 10% of its total workforce. Approximately 50 of these job cuts were in Singapore, with the remainder spread across its other regional markets. The layoffs, affecting several business units including performance marketing, were driven by the company's need to reduce costs amid dimmed growth prospects and economic challenges like high inflation and geopolitical risks. CEO Quek Siu Rui admitted to over-hiring and overly optimistic investment pacing during post-pandemic expansion. Affected regular employees received a minimum of three months' salary and extended benefits. Carousell operates in the e-commerce and classifieds industry across multiple Southeast Asian countries.