Ninja Van Cuts Singapore Staff in Second Round of Layoffs, ST Reports [BNN Bloomberg (Canada)]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: BNN Bloomberg
The logistics provider was “unable to avoid layoffs” after reviewing the roles in line with the group's direction, a spokesperson told the local newspaper on Monday. Ninja Van declined to respond to ST's queries on the size of its workforce and if Singapore was the only country affected. Junior technology staff across all segments were impacted by the job cuts, as well as other divisions including marketing, ST reported, citing an unidentified person. The layoffs follow an earlier round in April that impacted about 10% of its tech team, according to ST. The delivery company, which counts Alibaba and Eduardo Saverin's B Capital Group as investors, said in March that it was putting its stock market debut on hold to focus on improving profitability. ©2024 Bloomberg L.P. Top Picks
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