FinanceSG

GoBear Layoffs

September 2020

GoBear announced a layoff affecting 22 employees (11% of its workforce) in September 2020. The company operates in the Finance sector.

People Affected

Percentage

11%

Announced Date

Sep 1, 2020

About

In early September, GoBear, a Singapore-based online financial services platform, laid off 22 employees, representing 11% of its workforce. The cuts impacted staff across operations, product, and technology teams in its Singapore, Vietnam, Philippines, and Ukraine offices. Following the restructuring, the company is shifting its focus to growth areas like digital lending and insurance brokerage services.