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 Latest massive layoff for Malaysia's first Unicorn

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jonthebaptist
post Nov 17 2023, 02:19 PM

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QUOTE(AbbyCom @ Nov 17 2023, 02:15 PM)
This type of short notice heartless termination is 'news' in Malaysia but to US companies these are normal. Here employees are too protected, want to terminate so difficult, need to go thru 3x domestic inquiry, PIP plans or warning letter. Oberseas, 2 weeks pay, a pink slip, and you're gone by lunch time, escorted out by secu.

It's heartening to see local unicorn adapt to US work culture, kek.
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Yeah the old government did too good a job protecting employees. It's now time to face reality, and the chopping blocks my friends.
SUSfuzzy
post Nov 17 2023, 02:21 PM

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QUOTE(silverhawk @ Nov 17 2023, 12:03 PM)
This was posted in a local developer group yesterday

user posted image
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CEO is not wrong, Carsome is financially okay. But why CEO would settle for RM1 profit, when he can squeeze out RM10 by firing some poor schmucks?

Thats his game.
danielmckey
post Nov 17 2023, 02:27 PM

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Cutting job to make profit is not a good thing because the company is not making genuine profit.
pinkfoxlulu
post Nov 17 2023, 02:28 PM

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kekwa i know this strories 2 week ago
latte36
post Nov 17 2023, 02:29 PM

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QUOTE(ixaRA @ Nov 17 2023, 12:44 PM)
U work at glove industry ke?. That glove company give a lot of bonus during covid time.. but now very hard already because covid is over..
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Nope but my industry also boom during covid but we didn't get shit and only a pat on the back. Now start to rugi cuz extremely overstocked... and going to layoff some soon..
ameliorate
post Nov 17 2023, 02:30 PM

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QUOTE(danielmckey @ Nov 17 2023, 02:27 PM)
Cutting job to make profit is not a good thing because the company is not making genuine profit.
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This the easiest and fastest way to show profit. Cut cost.
mick84
post Nov 17 2023, 02:30 PM

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Ada duit bagi cantona, tak Ada duit hire local……
teehk_tee
post Nov 17 2023, 02:32 PM

ไม่เป็นไร
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QUOTE(AbbyCom @ Nov 17 2023, 02:15 PM)
This type of short notice heartless termination is 'news' in Malaysia but to US companies these are normal. Here employees are too protected, want to terminate so difficult, need to go thru 3x domestic inquiry, PIP plans or warning letter. Oberseas, 2 weeks pay, a pink slip, and you're gone by lunch time, escorted out by secu.

It's heartening to see local unicorn adapt to US work culture, kek.
*
Government wants ease of doing business. This is ease of doing business.

Employees here way too protected.
K.I.T.T
post Nov 17 2023, 02:32 PM

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QUOTE(DarkAeon @ Nov 17 2023, 08:30 AM)
vc and investors funds are high and dry these days even in silicon valley

companies who are in the red and depends on investor's money for survival can say bye bye. not many will survive till next year
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Investor sudah bagi duit million million
No need kerja keras pening pening
danielmckey
post Nov 17 2023, 02:32 PM

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QUOTE(mick84 @ Nov 17 2023, 02:30 PM)
Ada duit bagi cantona, tak Ada duit hire local……
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Hire Sanusi...
cooldog_777
post Nov 17 2023, 02:35 PM

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QUOTE(meshkuhan @ Nov 17 2023, 02:15 PM)
I wonder who got 12 months? Heard they only paid what's strictly mandated by law and nothing else.
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from my understanding, VSS, MSS or whatever scheme, 1 year in the company = 1 month pay.
if work 12 years = 12 month pay. max is if not mistaken 24 month pay.
coz i also went thru this before in my ex company done a VSS before.
for VSS, those who applied for VSS also have to depend on company to to accept it or not.
my ex company have a lot of working for more than 20 years staff, so many applied for VSS.
So me as manager there at that time have to choose which staff to let go and which staff to maintain.
SUSfuzzy
post Nov 17 2023, 02:43 PM

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QUOTE(mick84 @ Nov 17 2023, 02:30 PM)
Ada duit bagi cantona, tak Ada duit hire local……
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You look at their leadership shop team then u know lo.

President - China
Chief Data - India
Chief Marketing - India
Chief Tech - Nordic
Chief People - Spanish
Wapcar CEO - Indian
Chief Financial - American

Basically non of local folks are good enough.
emburrar
post Nov 17 2023, 02:46 PM

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Manuk1188
post Nov 17 2023, 02:57 PM

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Talented in creation but low or incompetent in managing the financial ? That's how i view from as an outsider ...

This post has been edited by Manuk1188: Nov 17 2023, 02:59 PM
silverhawk
post Nov 17 2023, 03:01 PM

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QUOTE(netflix2019 @ Nov 17 2023, 12:21 PM)
Actually company doing spring cleaning goreng employee why ppl cry like it's wrong. Ppl do business ler, not do charity.

Logically speaking. where got CEO will openly say company doing well, but will start laying off employee soon. Or they prefer the CEO to straight face say "yeah we got financial problem. need lay off employee to survive". In this world got boss who say like that?
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There are CEOs that are upfront with the truth.

That's how you know the leadership is good.

QUOTE(Drian @ Nov 17 2023, 02:06 PM)
Why he believe the ceo instead of looking at the accounts?
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You think they have access to the accounts? laugh.gif

QUOTE(AbbyCom @ Nov 17 2023, 02:15 PM)
This type of short notice heartless termination is 'news' in Malaysia but to US companies these are normal. Here employees are too protected, want to terminate so difficult, need to go thru 3x domestic inquiry, PIP plans or warning letter. Oberseas, 2 weeks pay, a pink slip, and you're gone by lunch time, escorted out by secu.

It's heartening to see local unicorn adapt to US work culture, kek.
*
Depends on state in the US, some have strong employee protection laws, and some are at-will employments. Means either employee/employer can terminate the working arrangement without notice.

QUOTE(fuzzy @ Nov 17 2023, 02:21 PM)
CEO is not wrong, Carsome is financially okay. But why CEO would settle for RM1 profit, when he can squeeze out RM10 by firing some poor schmucks?

Thats his game.
*
No doubt
NataM
post Nov 17 2023, 03:04 PM

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Salahan Gov x sapork unicorn. Hahahahhaah
Xsence
post Nov 17 2023, 03:06 PM

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QUOTE(meshkuhan @ Nov 17 2023, 02:15 PM)
I wonder who got 12 months? Heard they only paid what's strictly mandated by law and nothing else.
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Law is quite alot iirc, like every year dk get how many month bla bla
Knnbuccb
post Nov 17 2023, 03:08 PM

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QUOTE(mick84 @ Nov 17 2023, 02:30 PM)
Ada duit bagi cantona, tak Ada duit hire local……
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wonder whats the purpose
cantona is a nobody to people who wanna buy from carsome, those millenials
if anyone knows cantona its a diehard man U fan which is a very small proportion of the community.
sorry to man U fans but im just being honest.
yhtan
post Nov 17 2023, 03:11 PM

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QUOTE(Knnbuccb @ Nov 17 2023, 03:08 PM)
wonder whats the purpose
cantona is a nobody to people who wanna buy from carsome, those millenials
if anyone knows cantona its a diehard man U fan which is a very small proportion of the community.
sorry to man U fans but im just being honest.
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just to fulfill the founder childhood dream because he is Man Utd fans

Marketing perspective they should learn from Cuckoo, Cuckoo spend on Dato Siti Norhalizah and Lee Min Ho which has better marketing effect.
Knnbuccb
post Nov 17 2023, 03:12 PM

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QUOTE(MegaCanonF @ Nov 17 2023, 09:48 AM)
they did.

> one stop car selling centre that uses modern apps for booking / appointments.

> not kena potong harga by ahbeng 2nd car shop

>high value compared to ahbeng 2nd car shop

>generally hassle free dealings.
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generally ahbeng 2nd car shop prices is sme or lower than carsome

but issue is, we duno if ahbeng shop will honour their warranty or sell lemons
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