Singapore’s Zilingo Cuts Jobs After Putting Global Push on Hold
- Temasek-backed startup is said to cut 44 jobs globally
- Zilingo delays U.S. expansion amid consumption slump
Clothing items hang on racks next to a mannequin at the Zilingo Pte office in Singapore.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
Zilingo, a fashion technology platform backed by Temasek Holdings Pte, has cut 5% of its 900-strong global workforce as part of a strategy to refocus on Asia and emerging markets, according to a person familiar with the matter.
The Singapore-based startup dismissed 44 employees, including about 30 in the city-state, according to the person, who asked not to be named because the information is private. The company is streamlining its business to focus on profitability and putting on hold expansions in the U.S. and Europe, where consumption is slumping due to the coronavirus outbreak, the person said.