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Zilingo Pte, a fashion tech platform backed by Temasek Holdings Pte, has cut an additional 12% of its total workforce as it extends cost-cutting measures to deal with Covid-19 fallout, according to a blog post.
The latest cuts come on top of a 5% headcount reduction around April. The company helps small fashion outlets across South and Southeast Asia get online, market and deliver their goods, but it said the coronavirus outbreak has already led to a quarter of those businesses closing doors.
To rein in its own costs, Zilingo is downsizing marketing, sourcing and support teams in the U.S., Australia, Singapore and Indonesia. The leadership team is taking a 30% pay cut, most employees will shift to working from home at least part of the time and some regional offices will be let