More Southeast Asian tech start-ups laid off workers in 2017, due to increased macroeconomic headwinds and the drive for companies to extend their runways. According to CNBC, online marketplace start-up, Carousell announced that it was letting go of around 110 jobs. The GoTo Group also have cut 1,300 jobs or 12% of their headcount.
They are following the path of Sea Group and other start-up darlings in the region in downsizing their headcount. Sea Group laid off more than 7,000 employees over the past six months. It seems that the founders are being careful in managing costs in this environment to ensure the runaway is extended further before late 2024
