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Profitability drive, business pivot cited as reasons for CXA layoffs

CEO of insurtech startup says that only 12 staff in Singapore, out of a 319-strong regional team, have been laid off

Sharanya Pillai

Sharanya Pillai

Published Wed, Mar 4, 2020 · 09:50 PM

Singapore

THE recent layoff of a dozen staff at CXA Group arose from investors wanting to see a "clear path to profitability", while the insurtech startup is seeking to raise US$50 million in Series C funds, chief executive Rosaline Koo told The Business Times in a phone interview.

On Tuesday, online new…

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