Carsome has begun laying off less than 10% of its workforce.
Carsome redirected BusinessToday to call their PR agency who said, “This is part of their accelerated probability plan”.
Arshwin Nair took it to LinkedIn and expressed his heartbreak after hearing the news of him getting laid off and is also looking out for new opportunities.
This Malaysian-based unicorn is undergoing an “employee base optimisation” exercise which will see a certain number of employees being laid off. The executive team is also forgoing their salaries for the remainder of 2022 to help contribute to an ex gratia payment for departing team members.
Affected employees will receive their full severance package and extended health benefits until the end of the year, together with support on their job search.
With the employee base optimisation, Carsome will focus on improving productivity across the business, aligning resources with contributions to the bottom line, and enforcing stricter performance management. Additionally, the company is also accelerating its integration with the newly-acquired iCar and WapCar ecosystem of companies, as well as the automation of processes to further increase group efficiency. These plans are crucial to continuously enable Carsome to adapt to customers’ changing needs, especially in light of macroeconomic challenges.
