SINGAPORE: Temasek- backed website bonus software ShopBack has laid off 195 workers, or 24 per cent of its headcount, in what it said was a push to become more centered and self- green.
During a town hall meeting on Tuesday ( Mar 19 ), ShopBack CEO Henry Chan made the cuts known, with those affected being notified within an hour of the event’s conclusion.
” I made the error of expanding our staff to quickly and going too many directions as a business. I take full responsibility for the decisions that have led to this situation”, said Mr Chan in a information posted on the bank’s website.
Singapore- based ShopBack, even known by its lawful name Ecommerce Enablers, offers bonus for purchases made through affiliated merchant programs. Additionally, customers can find deals and discount code there.
Founded in 2014, it has expanded to 10 different areas including Australia, Hong Kong, South Korea, Indonesia, Malaysia and Thailand. ShopBack said on its site that it has 40 million people across all its businesses, with 20, 000 companion businesses.
Mr. Chan stated that all deviations may be made on Tuesday at the same time out of respect and to facilitate the transition for the team members who are leaving.
” Now is a challenging time for all ShopBackers, and particularly so for our Muslim ShopBackers who are also fasting this morning. As he announced a day off for the majority of Tuesday,” we recognize the needed for everyone to have the time and space to practice this information,” he said.