Ninja Van Layoffs: Singaporean Logistics Company Reduces 5% of Its Workforce Due to Expansion Into B2B Restocking and Cold Chain Logistics

Singapore City, July 2:  Ninja Van, a logistic supplier has reduced its workforce in its latest round of layoffs in Singapore. The logistic service provider has cut its 5% of staff amid its new expansion into B2B restocking and cold chain logistics. The Ninja Van layoffs were announced on July 1 which reportedly affected around 450 of employees based in Singapore. The firm had already announced its expansion in April into new logistics segments, a move that signals a promising future for the company. 

The Straits Times reported that the Ninja Van logistic supplier had around 450 staff members working at its Singapore-based headquarters in Kay Siang Road, near the Tanglin area. The employees working in technology at Ninja Van were reported to be over 100 in Republic overall. Ninja Van is a multinational logistics company that offers services across different countries, including Vietnam, Malaysia, Philippines, Indonesia, Thailand, and Singapore.  Ninja Van logistic firm also has a team working in Hyderabad, India. Tech Layoffs 2024: More Than 1,00,000 Employees Laid Off Since January 2024, Around 41,000 People Lost Their Jobs in June Alone, Says Report.

A Ninja Van spokesperson reportedly said that the company would need to diversify beyond e-commerce business to ensure long-term growth, according to a report by CNA. The spokesperson also said that the latest expansion of Ninja Van into 'business-to-business restocking and cold chain logistic was possible due to its existing e-commerce infrastructure and tech-enabled logistic solutions.' The Ninja Van spokesperson also emphasised that the company had carefully reviewed the roles to assess their alignment with the future needs. SK On Salary Halt: SK Group’s Loss-Making Battery Unit To Freeze Annual Pay of All Executive-Level Officials Until It Becomes Profitable.

The latest round of Ninja Van layoffs reportedly followed an exercise on April 30, which led to a 10% workforce reduction in the tech team. The logistic provider further mentioned that despite efforts to minimise the impact, it was unable to avoid the latest round of Ninja Van layoffs in Singapore. The NTUC (National Trade Union Congress) reportedly spoke on this matter and called the layoffs "dismayed" at the timing, which was a day before Labour Day, during which there is a celebration of workers.

(The above story first appeared on LatestLY on Jul 02, 2024 11:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).