Carousell cuts 76 jobs across markets (Update)

Ecommerce platform Carousell Group has laid off 76 employees from its business and tech departments across Asia, effectively axing 7% of its total headcount.

In a town hall earlier today, Carousell Group CEO Quek Siu Rui notified employees of the move. After the meeting, they were also informed individually by their department heads and a HR representative.

Photo credit: Carousell

In a statement to Tech in Asia, a Carousell spokesperson said the reorganization was aimed at ensuring the group’s “long-term sustainability and operational efficiency.”

The reallocation of resources to “areas that are showing promise” was necessary to “match the market reality” in some business units, the spokesperson added.

The National Trades Union Congress (NTUC) and the Creative Media and Publishing Union (CMPU) said they had been informed by Carousell Pte. Ltd. – the group’s Singapore entity – about the retrenchment, according to a statement sent to Tech in Asia. Carousell’s Singapore entity is unionized under CMPU.

According to a CMPU spokesperson, Carousell “assured that it has explored all alternative options, including redeployment to other suitable positions.”

CMPU has also worked with Carousell Pte. Ltd. to ensure that affected members and workers are offered fair compensation packages in accordance with the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment and provided with the necessary support as they transition to their next job.

The company announced that terminated workers will receive one month’s salary for each year of service, with a minimum of three months’ compensation. Carousell will extend medical and insurance coverage for laid-off staff and their dependents until June 2025 “where possible.” Additionally, employees will receive career counseling, employment assistance, access to job search tools and other forms of support.

Non-Singaporean Carousell staff who hold employment passes – a type of work visa needed for employment in the city-state – will also receive relocation support and have the option to serve their entire notice so their right to stay would not terminated early. Affected workers under Carousell Pte. Ltd. will also receive a full subsidy of union membership fees for one full year.

NTUC and CMPU will also offer job matching and career advisory resources to assist dismissed employees.

Apart from Singapore, Carousell also has offices in Hong Kong, India, Indonesia, Malaysia, the Philippines, Taiwan, and Vietnam.

In Singapore, Carousell operates Refash, a fashion-focused marketplace; Ox Street, a marketplace for high-end sneakers; and LuxLexicon, a reseller of luxury bags. Carousell is also the company behind OneShift, a used-car marketplace.

In Indonesia, Carousell runs electronics recommerce firm Laku6. The group laid off 17% of Laku6’s workforce in January.

Tough times for ecommerce