Singapore’s Zilingo slashes 5% of its global workforce

Bloomberg

Zilingo, a fashion technology platform backed by Temasek Holdings Pte, has cut 5% of its 900-strong global workforce as part of a strategy to refocus on Asia and emerging markets, according to a person familiar with the matter.
The Singapore-based startup dismissed 44 employees, including about 30 in the city-state, according to the person, who asked not to be named because the information is private. The company is streamlining its business to focus on profitability and putting on hold expansions in the US and Europe, where consumption is slumping due to the coronavirus outbreak, the person said.
“Zilingo has had to make several tough decisions to take forward its business plans in the course of time,” a company spokesperson said.