Pluang lay off 10% of employees, want to focus on the main business

Startups wealthtech Pluang laid off (PHK) as many as 10% of employees in Indonesia, Singapore and India. All divisions were affected by this decision.

In an official statement released today (18/8), Pluang Co-founder Claudia Kolonas said that the global economy which is still under pressure has a very close correlation with the performance of financial markets, especially the investment sector. Companies are not immune to these uncertain situations.

Management also took vital steps based on the evaluation results and a thorough review of the company's strategic goals. Starting from strengthening the company's core business, rearranging priorities, optimizing operational costs, to organizational restructuring which resulted in the termination of employment for 10% of employees.

In latest data As revealed by the company, the number of employees last year reached more than 300 people.

"This series of efforts was carried out to provide sufficient space to anticipate economic challenges and uncertainty in order to maintain the company's future growth and sustainable performance," said Claudia.

Claudia also expressed her sympathy and appreciation for the employees who were affected by Pluang's success as investment app multi-asset cannot be achieved without their support. He also ensured that affected employees received fair compensation and in accordance with labor regulations, extended insurance periods for employees and families, and support for working outside Pluang.

"Pluang will continue to maintain and improve the quality of service as well as the comfort and security of Pluang users in investing, diversifying assets and carrying out trading activities."

As an investment application, Pluang positions itself as a provider multi-asset, different from most applications on the market. It is stated that currently, Pluang provides access to five investment asset classes such as Digital Gold, US Stocks and Indices, Crypto Assets, and Mutual Funds. The total number of registered users has reached 10 million people.

The company continues to carry out various innovations to ensure equal access for Indonesian retail investors to take part in the global financial market. One of them is providing access to the United States stock market (S&P 500), through micro e-mini S&P 500 index futures which are traded on the Chicago Mercantile Exchange (CME).