Indonesian property rental startup lays off employees

Mamikos, an Indonesian property rental startup, has laid off some of its employees because of tough macroeconomic conditions.

The company did not specify how many employees or which divisions were affected. However, Mamikos says that the company had to restructure to ensure “a healthier and more sustainable structure.” Before the layoffs, Mamikos had 400 employees.

“This restructuring effort was carried out with a change in focus, one of which was a reduction in employee capacity/layoff,” Mamikos co-founder and CEO Maria Regina Anggit said in a statement provided to Tech in Asia.

Photo credit: Mamikos

Anggit stressed that there would be no service closures and users could access the Mamikos app as usual.

Those laid off will get a severance package in accordance with Indonesian law, Anggit said. In addition, they will also get extended health benefits and job assistance for the next three months.

See also: Tracking layoffs across Asia’s startup ecosystem

Mamikos is fairly popular in Indonesia, particularly among students and workers looking to rent a boarding house. Besides running a marketplace for rentals, the company also manages a number of boarding houses itself.

Mamikos said it recorded an increase in demand for room rentals by more than 125% in the first quarter of 2022, with 7 million boarding house seekers using its platform every month.

See also: Two models emerge from latest wave of co-living startups in Indonesia

The company, which was founded in 2015, now offers 3 million rooms in partnership with more than 200,000 boarding house owners in more than 150 cities and regencies in Indonesia. It onboarded BonAngels Venture Partners and Kakao Ventures as investors in 2018, according to CB Insights.