Layoffs in Malaysia

ByteDance's TikTok is laying off hundreds of employees, mainly in Malaysia, with less than 500 people affected, as the company shifts towards AI for content moderation to strengthen its global operating model.

Carsome, a Malaysian online car marketplace, laid off approximately 10% of its workforce in early 2023, affecting around 100 employees out of a total of about 1,000. The layoffs were part of a strategic restructuring to streamline operations and enhance efficiency amid challenging market conditions in the automotive e-commerce industry. As a leading unicorn startup in Southeast Asia, the company aimed to focus on sustainable growth and profitability while navigating economic uncertainties.

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Malaysian startup Kaodim, a home services platform in the gig economy, is shutting down entirely on July 1, 2022, resulting in the layoff of its entire workforce. The company, founded in 2014, cited insurmountable challenges including the prolonged impact of Covid-19 lockdowns, which caused operational disruptions, labor shortages, and significantly higher running costs that degraded its service quality and business viability.

In April 2020, Southeast Asian streaming service iFlix laid off more than 50 employees, representing over 10% of its estimated workforce of 420. The Malaysia-based startup, which operates in 13 territories and rivals Netflix, cited the unprecedented challenges of the COVID-19 pandemic as the reason. Despite a surge in viewership, with monthly active users up 42% to 21 million, the company faced a severe advertising budget crunch and halted new content production. This move, part of broader cost-cutting measures, aimed to help the loss-making firm navigate economic uncertainty and stay on track toward breakeven, though its planned IPO for the year became unlikely. The layoffs occurred shortly after rival Hooq filed for bankruptcy, highlighting the sector's strain even during a streaming boom.