https://www.linkedin.com/feed/update/urn:li...01396839460864/



need to ask ravisbook about that eric cantona thingy

caresome or carsome uncle?

fake news what fake news?

sudah masuk Bloomberg summore.

Temasek-Backed Carsome Cutting Hundreds of Jobs to Reach Profit

Used-car marketplace is slashing jobs across Southeast Asia
Startup trying to hit profitability as it eyes an IPO

https://www.bloomberg.com/news/articles/202...f-potential-ipo

mytukar already bought share in p@ulietan

https://www.malaymail.com/news/money/2023/0...eadership/75274

meanwhile shitsome bought 2 useless car based websites

[quote=RT8081,Nov 17 2023, 08:38 AM]
Times are bad

[/quote]


Cazey Tan

Digital Marketing Enthusiast | LinkedIn Certified Marketing Insider | Hustling In Progress
11mo
https://www.linkedin.com/posts/cazeytankarc...7893466112-1eyE

I'm dumbfounded by this decision by Carsome.

After raising almost USD 300 million in series E funding, what can possibly go wrong for this 1st Malaysia unicorn tech company?

Laying off 10% workforce might not be enough.

Over the next quarter, we could see more layoff coming from Carsome, all because the top management doesn't know what to do with the money from investors.

Here are a few top reasons why Carsome dominates on paper, but not the car industry market overall.

1. Too focused on used car market transactions

Everyone knows that cars are depreciating assets. The longer the car sits in the showroom, the lesser the value of the car.

Expanding their operations will not help much in the profitability of the company, unless they can sold off a trade-in car within a month of being trade-in. Totally reliant on this sole system puts them at risk of slow growth and not meeting investors expectations.

2. Carsome did not expand into other car business.

With the amount of money raised, I would've expected Carsome to dive into various car business such as rental car business or subscription car models like SoCar and GoCar.

Having these businesses in place can allow a steady flow of cash into Carsome's finances and generate a healthy financial yearly income.

3. Untapped new car partnership market

Someone needs to be a bit creative here. New car market partnerships have a lot of potential to drive more growth and sustainability in the long term.

Partnerships such as rental car subscriptions or rent, marketing, reviews, tests or even promotions can help Carsome to become a dominant player in Malaysia. But I just don't see it happening.

Recent acquisition of iCarAsia and WapCar could drive this potential but the question is, will they do it?

4. Wrong Brand Ambassador for Carsome

Seriously, I facepalm myself for this one. Eric Cantona? Are you kidding me? Is this football or someone related to cars?

Why not getting someone who knows cars? Like retired or current F1 drivers? Kimi Raikkonen, Fernando Alonso, Lewis Hamilton, Seb Vettel etc?

5. No focus on service centers.

Service centers are a huge plus points and it's a must have if you have such amount of money to expand your business. Plus, it can generate good income as well, by qualified trained mechanics.

Sadly, despite all the hype surrounding Carsome, I feel for those who will be laid off after this.

One mistake too many by the top management cost the employees their career.

I seriously feel that if they're going to make it into profitability, these 5 suggestions are a must to implement, or otherwise, another player can take these and dominate the market.

What do you think of Carsome's decision to layoff 10% of their workforce?

[/quote]


no wonder ravis krik krik...

u think?

better ask paulietan

wuuhuu

mohon share !

not even 24 hrs notice, lunch time got notice, straight away ask to clear the desk, return back company laptop and properties, then off you go

some of them got only 1 month compensation even work for more than 2-3 years

Last year also liddat

https://www.linkedin.com/feed/update/urn:li...01396839460864/



need to ask ravisbook about that eric cantona thingy

compensation 1 month enough or not?

no wonder ask for gomen help

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

Carsome rubbishes claims it sought a govt bailout

Malaysian used car unicorn says it was only seeking investment from government-linked funds.

PETALING JAYA: Malaysian unicorn Carsome has dismissed claims that it sought a government bailout in a recent letter to deputy finance minister Steven Sim.

The used car marketplace operator’s chief of staff Aaron Kee claimed on Twitter the allegations of a government bailout were “categorically untrue and badly misrepresented”.

dia simpan yang pandai bodek, pandai cakap

yang pandai buat kerja semua kena humban keluar

so agak agak apa akan terjadi kemudian?

says who?

buy very high using investor $, sell low to customer

can sustain or not this kind of business?

[quote=Taikor.Taikun,Nov 17 2023, 04:16 PM]
Well said. Lucky I didn't join them

[/quote]
Should point number 6, car grooming, car wash

[/quote]

they got workshop, but so far, meh...

itulah

lagi mau suruh gomen invest

really wtf

thing is, they did that since 1st layoff september last year

kick old staff
bring in new one
then kick out the new one

what's the rational?

Mandatory Separation Scheme lulz

company boot u out lah

QUOTE(meshkuhan @ Nov 17 2023, 04:19 PM)
Definitely not 1 month for this latest round. In Sept 2022 retrenchment yes I think got 1 month, now is like below lor:

10 days’ wages for every year of employment under a continuous contract of service with the employer if he has been employed by that employer for a period of less than 2 years.
15 days’ wages for every year of employment under a continuous contract of service with the employer if he has been employed by that employer for 2 years or more but less than 5 years.
20 days’ wages for every year of employment under a continuous contract of service with the employer if he has been employed by that employer for 5 years or more.