Miracle Homes 67 Employees, Steps to Anticipate Uncertainty in Global Macroeconomic Conditions

Startups wealthtech Ajaib confirms the news of layoffs. In an official statement released today (29/11), Ajaib has laid off 67 employees or 8% of the total employees. It did not mention which teams were affected by these efficiency measures.

Ajaib's management representative said that in the last three years, the company had increased Indonesia's financial inclusion through digital financial services. All the positive impacts and development of Ajaib as a company cannot be separated from the dedication and hard work of each team.

“The company's strategy continues to be adapted so that Ajaib can develop in a sustainable manner. To ensure the company's readiness to face uncertain macroeconomic conditions, we were forced to downsizing employees which affected 67 employees," said the Ajaib representative.

Employees who are laid off will receive compensation in accordance with statutory provisions, as well as an additional bonus of one month's severance pay for each year of service, health insurance for employees and their families for the next six months, counselling, and job search support.

In addition, the management of Magic will reduce their salary voluntarily and the founders will receive no salary. It is hoped that this step will not have an impact on the continuity of the company and services to Ajaib's customers.

"Going forward, Ajaib has also prepared a strong business strategy to continue realizing financial inclusion in Indonesia," he said.

Wonderful established since 2018 with its main business being an investment platform for stocks, mutual funds, and crypto assets. The company's internal data shows that more than 90% of Ajaib's customers are young people, of which around 80% are young people. first-time investors who found access to stock investment through Ajaib. Ajaib stated that he had attracted more than two million retail investors in the last two years.

The company earned the title "unicorn" in October 2021 after raising $153 million in Series B funding from DST Global and other investors, such as Alpha JWC Ventures, Ribbit Capital, Horizons Ventures, Insignia Ventures and SoftBank Ventures Asia.

Startup layoffs throughout 2022

Ajaib adds to the ranks of tech startups that are taking efficiency path employees to look after runway in the midst of uncertain global macroeconomic conditions. Here's a list of other companies for this time of year:

1. Xendit
2. Carsome
3. Shopee Indonesia
4. Grab
5. tokocrypto
6. MPL Indonesia
7. Tanihub
8. LinkAja
9. Lummo
10. JD.id
11. Understand
12. Mamikos
13. Zenius
14. CoinWorks
15. Goto
16. Ruangguru
17. SIRCLO Group
18. BookStore