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A credit card bill, a home loan installment, groceries, and a massive bag of pet food: These are just some of the things I paid for this morning after my monthly salary came in hours ago.
Salary is one thing we probably take for granted when everything seems hunky dory, but even a hiccup in that routine can throw a monkey wrench into our cycle of bills and life in general. Imagine what it’s like for the Philippine-based employees of the beleaguered Zilingo who have not been paid salaries for two months now. More on this in a bit.
Given that we are in a season of layoffs, our regularly updated hiring tracker is open to all to access: Check it out for jobs in tech companies across Southeast Asia, China, and India.
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Today we look at:
- Zilingo’s troubles trickling down to its employees in the Philippines
- Layoffs at India-based B2B ecommerce firm Udaan
- Other newsy highlights such as India’s Battery Smart raising US$25 million and Bangladesh’s ShopUp scooping US$65 million in funds
Premium summary
Unappealing fashion
Image credit: Timmy Loen
“Further delayed” – that’s what Zilingo told its employees in the Philippines about their salaries for June. Staff in the Singapore-headquartered fashion ecommerce firm have not been paid for two months, a Philippines-based employee told Tech in Asia on condition of anonymity.
Zilingo’s troubles started with an internal accounting probe. That exploded into the CEO’s suspension and subsequent ouster and even talks of liquidation.
- How much can furniture get? The company’s HR team has told employees that the Philippines branch plans to sell office assets and production equipment to pay salaries should the delay continue. There are already “interested buyers looking to purchase these assets at the earliest,” the team said in an email that Tech in Asia has seen. Tech in Asia has reached out to the firm for comments.
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Jumping ship: Tech in Asia’s source says that resignations are taking place across multiple markets, including Indonesia and Thailand, though numbers remain undisclosed.
An unusual flight
SYNC
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