Aquaculture startup eFishery has laid off 98% of its employees, with severance pay and holiday bonuses distributed today, February 25.

Only a small number of staff in downstream operations, human resources, and finance will remain.

The layoffs were conducted in accordance with contractual agreements and the Job Creation Law.

Employees were informed about the plans in advance.

The job cuts began in late January 2025, starting with 100 layoffs, followed by 300 more before today’s announcement. Nearly the entire workforce of 1,500 employees has been affected.

Leadership changes also took place, with CEO Gibran Huzaifah and chief product officer Chrisna Aditya suspended in December 2024.

Adhy Wibisono was appointed interim CEO but resigned last week, and Martin Wong from FTI Consulting has now assumed the role.

Requests for comment from eFishery’s management remain unanswered.

Recent eFishery developments