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Sirclo, backed by East Ventures cuts staff by 8%

Due to the gloomy financial environment, Sirclo, an Indonesia-based e-commerce facilitator, has laid off 8% of its workforce.

The company reported having about 2,000 employees on its payroll in January. Around 160 workers may have been impacted by the layoffs if the same number of workers had remained at that level.

The business claimed in a statement that, in order to ensure sustainability, “many internal assessments” and “major adjustments” have been undertaken.

Sirclo intends to concentrate on expanding its e-commerce enablement companies, which cater to enterprise clients. According to the company, its other firms that serve SMEs will concentrate on their core functions.

“It’s our priority to ensure all affected employees get proper compensation according to local regulations. We will also give them comprehensive support to help in this transition period,” said Brian Marshal, Sirclo’s founder and chief executive.

Sirclo, an e-commerce enablement company, was founded in 2013 and initially served as a platform for building websites for online vendors. It received $36 million in funding last year from East Ventures, Saratoga, Traveloka, and Sinar Mas Land, among others.

Additionally, the business earlier this year purchased Warung Pintar, a startup that specializes in creating solutions for mom-and-pop stores (warungs). East Ventures invested early in both businesses.

 

 

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