Ninja Van cuts 5% of workforce in Singapore

The latest round of cuts follows an exercise on April 30 that cut about 10 per cent of its technology team.SINGAPORE – Logistics technology company Ninja Van has laid off 5 per cent of its workforce in Singapore, it said on July 1, as the firm retools itself for its expansion into new logistics segments that was announced in April.

The earlier exercise came after Ninja Van’s chief executive and co-founder Lai Chang Wen revealed in March that the company would put off plans for an initial public offering amid profitability challenges. “Unfortunately, despite our efforts to minimise impact, we were unable to avoid layoffs impacting 5 per cent of our colleagues in Singapore.”

The company will provide career transition support, such as curriculum vitae reviews and interview training.

Source: News Formal (newsformal.com)

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