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10 Indonesian Startups Conducting Mass Layoffs; Latest Is Tokopedia-TikTok Shop

21 June 2024 14:41 WIB

TEMPO.CO, JakartaA wave of layoffs is sweeping across large companies worldwide, including tech startups in Indonesia. This trend reflects the ongoing "tech winter", a period of economic slowdown impacting the technology sector since the COVID-19 pandemic.

The following is a list of Indonesian startups that have conducted massive layoffs as of June 2024.

1. Tokopedia - TikTok Shop

Director of Corporate Affairs Tokopedia and ShopTokopedia, Nuraini Razak, confirmed the company’s plan to implement layoffs as part of its restructuring following the merger of Tokopedia and TikTok Shop in early 2024. She said the adjustment of the organizational structure is necessary to strengthen several areas in line with the company's goals.

“As a result, we need to make the necessary adjustments to the organizational structure as part of the company's strategy to continue growing,” Nuraini said in Bandung, West Java, on June 14, as reported by Antara.

2. Xendit Indonesia

Homegrown payment gateway provider, Xendit Indonesia, decided to dismiss some employees in early 2024 in an effort to balance and optimize the company's long-term resilience.

“Xendit has rebalanced its organization to maximize long-term resilience. We thank all team members who have contributed [to the company]. This is a tough process to go through, but we believe it is necessary to align resources and business strategy,” Managing Director of Xendit Indonesia, Mikiko Steven, said in a statement received by Tempo on January 25, 2024.

3. Lamudi

Property startup Lamudi reduced its workforce from several departments in July 2023 as part of its strategy to optimize the company’s growth and boost efficiency to achieve long-term business sustainability.

4. JD.ID

At least 200 employees of the e-commerce company JD.ID were affected by mass layoffs in December 2022. According to the company's management, this efficiency is part of the company's efforts to face the challenges of extremely rapid business changes.

"One of the steps taken by the management is downsizing so that the company can keep adapting to changes,” Head of JD.ID’s Corporate Communications and Public Affairs, Setya Yudha Indraswara, said in a statement on December 13, 2022.

5. Ruangguru

Education startup Ruangguru also conducted a mass layoff of its employees in November 2022. Through his personal Instagram account, PT Ruang Raya Indonesia founder and CEO Adamas Belva Syah Devara apologized for the company's failure to anticipate the rapidly evolving economic conditions.

“With a heavy heart, Ruangguru has to say goodbye to hundreds of its best team members through layoffs,” Belva wrote on Saturday, November 19, 2022.

6. Shopee Indonesia

Shopee has terminated the employment contract of 187 of its total 6,232 workers. The layoffs in September 2022 were part of a series of layoffs that were also carried out in November and June of that year for its food delivery unit, ShopeeFood.

7. Zenius

Education startup Zenius announced the dismissal of a number of its employees in August 2022. Zenius CEO Rohan Mongan said the company needed to align the needs of the organization with its priorities.

“This step needs to be taken to adapt to the economic conditions by adjusting the number of teams to be leaner and focus on hybrid learning through the News Primagama network, which is supported by the Zenius online platform,” Rohan said on Thursday, August 4, 2022.

8. Pahamify

Research and technology education startup, Pahamify, cut off a number of its employees in June 2022. Pahamify CEO Syarif Rousyan Fikri said that the layoff was a form of adapting to the macroeconomic conditions in order to realize its long-term vision.

“The number of affected employees is less than rumored. We also comply with Indonesian regulations in fulfilling the rights and obligations of our employees,” Syarif said on June 6, 2022.

9. LinkAja

E-wallet company PT Fintek Karya Nusantara (Finarya) or LinkAja laid off hundreds of workers in May 2022. LinkAja Group Head of Corporate Secretary Reka Sadewo said that the layoffs were carried out in line with adjustments to the company's human resources (HR) organization.

“Change is something that happens all the time in growing companies. Adjustments will continue to occur, of course,” Reka said in a written statement on May 26, 2022.

10. SiCepat

Logistics startup PT SiCepat Expres Indonesia announced the layoff of hundreds of employees in March 2022. Chief Corporate Communication Officer Wiwin Dewi Herawati said it was part of management evaluation at all levels.

“It is certainly aimed at improving work quality and performance. Competition in the expedition sector is getting tougher along with the development of the creative industry, and we’re dealing with the endemic,” Wiwin said at his office in Central Jakarta on March 16, 2022.

ANDIKA DWI | MELYNDA DWI PUSPITA 

Editor's Choice: Unilever Indonesia to Distribute Dividends of IDR 2.93 Trillion, IDR77 per Share

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