Online marketplace provides spreadsheet with names, email addresses, skills of former employees
Shortly after laying off employees, online marketplace platform Carousell has launched an "alumni list" to promote retrenched staff to new employers.
Carousell said that the list aims to help "impacted colleagues searching for opportunities across different functions."
The company recently laid off about 110 people, or 10% of its total headcount, in Singapore, India, Philippines, Taiwan, and Vietnam in the beginning of December.
"If you are looking to bring on dedicated, mission-first individuals looking to make an impact in your organisation, may we humbly suggest you consider one of our esteemed Carousell alumni," it said on LinkedIn.
The list is formatted as a spreadsheet online that lists their names, email addresses, LinkedIn addresses, years of experience, primary skills and relocation preferences.
‘Critical mistakes’ made
Carousell CEO Quek Siu Rui attributed the layoffs to a number of "critical mistakes."
"First, I was too optimistic about the pace of our impact versus our increase in investments. The reality is that we were quick to grow our expenses and hire, but the returns took longer than expected," Rui said in a statement.
"Second, while it is easy to blame market conditions, I also underestimated the impact of growing our team size too quickly–larger teams lead to lack of clarity in decision making and the additional coordination required to get things done."
The CEO also attributed the decision to the "worsening macroeconomic environment," as economists expect a "broad-based slowdown in 2023."
"I am deeply sorry for this outcome, and I take responsibility for the decisions that have led us here," Rui said. "Parting with teammates, whom we are grateful to for joining us on this mission, is a very difficult decision. We will be sure to treat everyone impacted with compassion and to lend as much support as we can to them. More details will be provided later in this note."
wCarousell joins the list of tech companies in Asia that laid off employees amid economic uncertainty. Online job recruitment platform Glints laid off about 18% of its workforce this month. Retail giant Amazon, Facebook's parent company Meta, and mass media company Disney also announced layoffs recently.
Further assistance
In addition to helping them find new jobs, Carousell promised retrenched staff the following assistance efforts:
- One month of salary for every year of service, rounded up to the nearest half year.
- Encash all paid time-off balances and waive clawbacks on sign-on/retention bonuses and relocation support.
- Extended medical benefits and insurance coverage for teammates and their dependents up to June 30, 2023.
- Encash the 2023 "Wellness Pocket" flexible benefit entitlement.
- Job search tools, as well as letting affected employees keep their office laptop and continue their LinkedIn Learning membership until June 30, 2023.
- Access to an Employee Assistance Programme and counselling services for emotional and mental support.
