Carsome Reportedly Lay Off 10% of Employees
Layoffs will reportedly be carried out in three different waves; Carsome Indonesia is also affected
Startups marketplace Mobil Carsome is rumored to be terminating the employment relationship (layoff) of 10% of regional employees which will be carried out in stages. Employees of unicorn from Malaysia, it is rumored that he has started releasing employees in Indonesia and Thailand, and is considering implementing it at his head office, Malaysia.
Menurut report Techwire Asia, it is also unclear whether this efficiency measure is carried out comprehensively or only focuses on Malaysian workers first. Carsome itself is fully operational in Malaysia, Indonesia, Thailand and Singapore. According to a source with knowledge of this, the announcement was made yesterday that layoffs would be carried out in three different waves.
This startup has been actively recruiting many employees since the beginning of the year, especially after pocketing series E . funding worth Rp4,1 trillion which was announced earlier this year. However, being in this industry at the same time does not exclude the possibility that companies will bear the burden of the global economy and the threshold of a recession that is predicted to occur next year.
Previously, quoting from Bloomberg, Carsome delays double listing plans (dual listings) in Singapore and the US due to concerns that deteriorating macroeconomic conditions could dampen their valuation. Carsome embraced her position as unicorn from Malaysia, after the acquisition of iCar Asia shares in July last year.
Based on last year's financial report, the startup managed to double its revenue to $656 million. But his losses widened more than seven times to $138,6 million. The increase in losses was due to the fair value adjustment which is a non-cash expense and is not related to Carsome's operating performance.
Carsome seeks to revolutionize the process of buying and selling cars with a technological approach. The innovation cannot be separated from the site as a listing site, but also making its own standard called Carsome Certified to give more value to every car sold through Carsome.
Carsome Certified is tasked with inspecting that the car will be reconditioned with high safety standards, to meet the level of comfort and aesthetic value that exists in the car. There are 175 inspection points, covering every aspect of the car such as the chassis, undercarriage, engine, gearbox, electricity to the interior of the car, and road tests.
After inspection, the car will be taken to Carsome Certified Lab to carry out reconditioning, after the last inspection is completed by a professional team. This facility is claimed to be the most sophisticated and the largest in Southeast Asia with an area of 40 square meters that can accommodate reconditioning of up to 4 thousand cars per month.
For consumers who are not satisfied just looking at the site, they can go to the Carsome Experience Center point. The locations are spread across Jakarta, Bekasi, Bogor, South Tangerang, Bandung, Depok, and Malang.
The highest leadership of Carsome Indonesia is now held by Andrew Mawikere as CEO as of February 2022 which was previously occupied by Delly Nugraha. In his previous career, Andrew was the founder of a B2B marketplace e-procurement named Mbiz. Then, he led Bizzy Digital, a business-to-business (B2B) platform for integrated supply chain logistics and distribution that is now part of the Warung Pintar Group.