SIRCLO Group Takes Efficiency, Laying Off 8% of Employees
The decision was announced today (22/11), more than 160 SIRCLO employees were affected
KORPORASI omnichannel commerce enabler SIRCLO Group announced a policy of efficiency measures that resulted in termination of employment (PHK) for 8% of the total employees. This decision comes into force as of today (22/11).
In the latest data, the company has more than 2 thousand employees. This means that around 160 employees were affected. The company said that this policy was taken because of the need to adapt amid the current macroeconomic conditions.
"As a fast-growing technology company, SIRCLO Group strives to continue to be adaptive in making business adjustments in order to achieve long-term growth. In a challenging macroeconomic situation, SIRCLO Group has gone through a series of internal evaluations and will make significant changes, especially in terms of business focus, to ensure the company's sustainability," said SIRCLO Group Founder & CEO Brian Marshal in an official statement.
He continued, the decision taken did not affect the company's commitment to developing the best solutions for all SIRCLO service recipients. To achieve long-term growth, now all SIRCLO Group business aspects are in the optimization stage, one of which is by focusing on the development of business lines e-commerce enablers serving corporate clients.
A number of SIRCLO Group business units targeting the MSME segment will focus on essential operational aspects, with the aim of supporting the growth of all service recipient segments within their ecosystem. The series of goals has an impact on adjusting the scale of the company's organization.
"Since its inception, SIRCLO Group has a mission to support businesses and individuals to sell with high service value. The development of our ecosystem from year to year cannot be separated from the contribution of every employee in it, so it is a priority for SIRCLO to ensure that every affected employee will receive a compensation package in accordance with applicable rights and regulations, as well as comprehensive assistance to support their transition period." closed Brian.
In its journey since 2013, SIRCLO has carried out efficiency in its third year and even almost closed. Quoting from Dataword, Brian explained that in 2015 the company failed to get funding, runway getting thinner and had time to think about stopping.
Finally, efficiency measures were taken by laying off 40% of employees. At that time the number of employees was about 30 people. “We decided not to close, we must continue, but by reducing the team by 40%. next year, try to stand on our feet," he said.
This step managed to make SIRCLO escape bankruptcy, even at the end of 2015 it began breakeven aka no loss. One of the factors, apart from being a solid team, is also achieving product-market fit.
Since the beginning of this year, after completing the acquisition of Smart Shop, SIRCLO now handles three pillars of solutions, namely Enterprise, Entrepreneur, and New Retail.
The last funding the company obtained was announced in September 2021 for $36 million led by East Ventures and Saratoga, followed by Traveloka. The company uses these funds to develop technology and accelerate retail digitalization for various businesses in Indonesia.