I was told everything was super last minute. Really bad handling from the management/HR. No office wide announcement. Started with townhalls for different departments at different days. After that called in for 1on1 and then provided letter.... most are immediate termination. Feel really bad but I guess it is the risk with startups.

Used to be in an 'infinite growth' model revenue>all.

After covid & russia-ukraine are investors only seeing that the model doesn't work and that it's more of an elaborate 'scam'.

Eric cantona was a stupid move

Most people already forgotten about him

And he was known for his flying kick

Choose someone more recent or put amoi, awek, better

Since when u see (ex) soccer player help to sell cars?

Means your friend got his ass fired already. They aren't telling him shit

News already appearing in a few major news outlets... unlikely its fake news.

Investors SUCKered

buy from you high

sell low at auction

https://www.dsf.my/2023/10/why-is-carsome-s...ickles-auction/

sometimes people have to keep their mouth shut cos theyre counting on getting that severence payment to survive the ordeal

no retrenchment or severance pay, just terminated like that?

their head office is in Msia or Spore? I am surprised that they are run so badly, thought that temasik as their major investor would have reign in their spending.

their marketing campaign 28mil USD alone on eric cantona is crazy. That's bigger than most large corporate marketing budget I know in Msia.

Imagine if that is 10% of their marketing budget. They still got other digital, roadshows, media preview, posters, etc to go.

This post has been edited by hoonanoo: Nov 17 2023, 08:52 AM

Haha a 1 billion used car business in malaisya..... I didn't know buying/selling used cars can become a such a business.

I don't know how popular it is in Thailand but mostly unheard of in sinkapok.

Don't say start up, a local top bank (cannot disclose) recently also lay off many of their internal staffs. Came as a shocking news, that morning they announced in townhall, many ppl crying. Those that got letter, terus terminate and have to leave office building immediately, termination like US style companies, damn scary...

Bad times coming next year, many already forecast this... even big countries not spared as told by my brother who's working in a top consulting firm in London. 90k employees laid off in his firm recently.

Buckle up guys. If you don't have strong financial backup or your job industry is those unstable one, better don't overspend this coming year end.

Good luck.

diverse to AIsome je
konlamferm can get ipo

This happened to me. One day, HR just called me to their office all of a sudden, and told me today will be your last day.

That feeling was crazy, the tension and excitement was something I have never felt before, excitement as I already had the thought of leaving the company, but at the same time it was shocking as I did not expect that to happen to me.

Normal la. When new that time keep throwing money around to gain market share. Now already got stable footing, sure need to reduce overhead . Its very common. Thats why joining these type of companies is very risky.

I think this happens a lot at Start Up Companies.

My friend who worked at a bank, told me he had a choice to take up severance pay or remain.

He took up severance pay, 6 months, then found another job almost immediately.

Another friend, his wife worked at a bank almost 20 years, she took up volunteer severance pay in her early 50s.

After that, retired early no need to do anything but travel overseas for fun.

Had they used RM 132m to subsidize their sale, they may become #1 used car dealer in the country.

Liquidity crunch is rolling the market.

getting eric cantona is stupid

most ppl go thru this a few times in their life

don't worry, it will be easier the next time