Indonesian startup Sirclo cuts workforce to trim costs

Sirclo, an Indonesian startup that helps retailers sell online, slashed 8% of its workforce as it braces for challenging economic conditions.

The Internet firm will make “significant changes, especially in terms of business focus, to ensure the company’s sustainability,” chief executive officer Brian Marshal said on the startup’s blog on Tuesday.

The company had about 2,000 employees in January after acquiring Warung Pintar, which aims to digitise roadside kiosks. Both startups were backed by East Ventures.

Sirclo will streamline the business unit that targets micro and small businesses and focus on larger enterprise clients.

Sirclo joins a wave of tech companies in trimming staff in South-east Asia as the region’s digital boom shows signs of slowing down.

Sea Ltd has cut about 7,000 jobs, or about 10% of its workforce, in the past six months, while Indonesia’s Goto Group is reducing its staff by 1,300, or 12% of the total.