most ppl go thru this a few times in their life

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

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.

Head office in Msia. Heard got severance pay but don't know how much. The ones who get fired hopefully can get work elsewhere quickly so can treat the SP as bonus. LOL

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.

Sounds bad; nature of your work... Engineering?

Carsome Group Layoff

A friend of mine who worked at Carsome was just called in for a one-on-one meeting with the HR regarding the possibility of facing immediate termination, along with minimal compensation, as part of the company's downsizing measures.

It appears that Carsome has been extravagant with investor funds, and following several rounds of layoffs last year, they are now extending the retrenchment to impact rumored to be the largest this time round.

Well, that's Malaysia's unicorn for you. What other areas do you think Carsome has fallen short? Seems like spending investor money like water this. Even the Eric Cantona campaign costed like ~USD 20 mil. LOL

https://www.freemalaysiatoday.com/category/...a-govt-bailout/

'After all, it has bulldozed through 12 funding rounds, raising some US$607.4 million (RM2.81 billion) via 26 investors in the eight years since its inception in 2015. A large chunk of the money – US$290 million (RM1.34 billion) – was raised in its most recent funding round in January.

In 2021, the group posted a revenue of US$655.9 million (RM3.03 billion). However, it only managed a 5.5% gross profit of US$35.9 million (RM165.8 million).

After accounting for non-cash flow related losses, the group closed 2021 with a net loss of US$138 million (RM637.15 million).

Cash used in operating activities was a whopping US$114 million (RM526.34 million) in 2021, implying a nine-fold increase in operating burn from 2020.

Carsome accelerated its spending in 2022, as evidenced by their Eric Cantona (ex-Manchester United football star) marketing campaign, reported to cost US$28.7 million (RM132.51 million).'

Head office in Msia. Heard got severance pay but don't know how much. The ones who get fired hopefully can get work elsewhere quickly so can treat the SP as bonus. LOL

Malaysia side not affected

Only Thailand and Indonesia getting slash

Even as a used car business, they haven't provided something unique or distinct to set themselves apart from the other players.

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?

they were doing great at first.. until they decided to make cantona as their mascot lololololololololol

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.