In a move to adapt to the ongoing challenges posed by the global economy and strengthen its core operations, wealth tech startup Pluang has announced a 10% reduction in its workforce across Indonesia, Singapore, and India. Consequently, affecting all divisions, this move aligns with the company’s core goals.
Pluang Co-founder Claudia Kolonas released an official statement on August 18th, shedding light on the company’s decision to streamline its workforce. Kolonas emphasized the interconnectedness between the global economy and the performance of financial markets, particularly the investment sector. She noted that these uncertain economic conditions have impacted the company, prompting the need for adaptive measures.
Implementing layoffs follows a comprehensive evaluation of the company’s strategic direction and a thorough review of its operational goals. Pluang’s management acknowledged the need to strengthen the core business and adjust priorities amid economic challenges. This encompassed measures such as optimizing operational expenditures and undergoing organizational restructuring.
The reduction in the workforce, affecting employees in Indonesia, Singapore, and India, was carried out with an equitable distribution across all divisions. Kolonas emphasized focusing on the dynamic financial market despite the layoffs’ impact on individuals and families.
Kolonas expressed the company’s gratitude for the contributions made by the affected employees and acknowledged their dedication to Pluang’s mission. Additionally, she assured stakeholders of Pluang’s commitment to aiding those impacted by workforce reduction with transitioning support.
Pluang’s strategic realignment aligns with its commitment to delivering exceptional wealth tech solutions. Despite the challenging economic landscape, the company pursues innovation and growth. Pluang’s recent changes show its commitment to adapting and excelling in a fast-changing financial landscape.
Pluang’s response showcases agility in adapting to evolving wealth tech, creating lasting value for customers and stakeholders. In this light, these choices aim to reposition the company for success by emphasizing core business and long-term goals.