Temasek-Backed Carsome Cutting Hundreds of Jobs to Reach Profit
- Used-car marketplace is slashing jobs across Southeast Asia
- Carsome is backed by Temasek’s 65 Equity and Seatown funds
Carsome Group, which operates a Southeast Asian used-car online marketplace, is cutting hundreds of jobs to reduce costs as it works to reach profitability ahead of a potential stock-market listing.
The company is eliminating positions across Southeast Asia, with Indonesia and Thailand the hardest hit, people familiar with the matter said. Carsome has scaled down its operations significantly in those two markets, which it entered in 2017, the people said, asking not to be identified as the plans aren’t public. It has about 4,000 employees.