Indonesia’s Sirclo cuts 8% of staff

SIRCLO, which builds software to help e-commerce sellers manage their businesses and increase sales, on Tuesday (Nov 22) laid off 8 per cent of employees amid “challenging macroeconomic conditions”.

The Indonesia-based company in January said it acquired Warung Pintar, which focuses on small Indonesian businesses (warung), in a deal that merges nearly 2,000 employees.

Sirclo is backed by investors including East Ventures, Sinar Mas Digital Ventures and Traveloka, and has raised US$85.9 million in equity funding to date, according to data platform VentureCap Insights.

In a statement posted on the company’s blog, Sirclo said it is aiming for long-term growth by focusing on its business lines that serve larger enterprise clients. Business units targeting the micro, small and medium enterprise segment will be streamlined, the startup added.

The firm has multiple products targeting different segments, including a webstore builder and software that combines sales from various marketplaces and webstores into one dashboard.

The startup is among a wave of tech companies laying off employees and slashing other expenses to conserve cash amid an economic slowdown and funding winter.

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