Ninja Van, a logistics technology company, announced on July 1 that it has laid off 5% of its workforce in Singapore. This move comes as the company retools itself for expansion into new logistics segments, a strategy unveiled in April.
Company Workforce and Regional Operations
Ninja Van employs over 4,500 people across its operations in Singapore, Malaysia, Indonesia, Vietnam, the Philippines, and Thailand. Despite the workforce reduction, the company remains focused on its regional presence and service delivery.
Strategic Decisions and Profitability Challenges
The layoffs follow an earlier announcement by Ninja Van’s chief executive and co-founder, Lai Chang Wen, in March. He disclosed that the company would delay its plans for an initial public offering due to challenges in achieving profitability.
