Ajaib, an Indonesian investing platform, has laid off 67 workers, or 8% of its total workforce.
The corporation said that the reduction was done “to ensure the company’s readiness to handle unpredictable macroeconomic conditions” in a statement provided by Ajaib management.
Employees who are affected will get severance pay as well as a bonus of one extra pay month for every year of service. For the upcoming six months, the business also promised to provide employees and their families with counseling, assistance with job searches, and health insurance.
Ajaib has also chosen to voluntarily lower managerial compensation and forgo co-founders’ salaries as a further step.
Winston Lays, Yada Piyajomkwan, and Anderson Sumarli collaborated to co-found the business in 2019.
The announcement follows other layoffs that have affected Indonesia’s startup ecosystem this month. In addition to Sirclo, Koinworks, a FinTech platform, also let go of 8% of its workforce. GoTo Group, a tech giant, laid off 1,300 workers in addition to the macroeconomic slowdown.
