Carsome confirms layoffs after 'optimisation' of headcount

MALAYSIA: Automotive e-commerce platform Carsome has confirmed that the company is going through an “optimisation of workforce”, adding that its executive team will forego their salaries for the remainder of the year.

In a statement to the media, Carsome said that it will focus on improving productivity across the business by aligning resources with contributions to the bottom line and enforcing stricter performance management. All of which is a part of employee base optimisation.

The move will impact a certain number of employees who will receive a “full severance package and extended health benefits until the end of the year, together with support on their job search”, Carsome said.

The ex-gratia payment will come out of pocket from Carsome’s executive team.

Carsome announced the layoffs following a group-wide accelerated profitability plan to achieve its target of positive earnings within the next few quarters.

“This plan includes accelerating its integration with the newly-acquired iCar and WapCar ecosystem of companies, as well as employee base optimisation and automation of processes to further increase group efficiency,” Carsome said in its statement.

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