Multi-Aset Investment Platform, Pluang Lays 10 Percent Of Employees

Pluang lays off 10 percent of employees based in Indonesia, Singapore, and India (photo: Pluang)

Pluang, an innovative multi-asset investment application startup in Indonesia, has terminated employment (PHK) for approximately 10 percent of employees based in Indonesia, Singapore, and India.

This decision was taken by Pluang because of the current uncertain situation and macroeconomic conditions. The high level of inflation and declining purchasing power have a negative impact on the market and lead to lower demand for investment products.

"The current condition requires Pluang to be able to continue to adapt quickly so that some vital efforts need to be taken based on the results of a thorough evaluation and review of the company's strategic goals," the company wrote in a statement.

Furthermore, Pluang said that this effort was made so that the company could anticipate economic challenges and uncertainties in order to maintain the future of sustainable company growth and performance.

"Although the company has to make this very difficult and unavoidable decision, we ensure that the affected employees get fair compensation and in accordance with the employment regulations," said Pluang Co-Founder Claudia Kolonas.

Claudia also revealed that the company will provide an extension of the insurance period for employees and their families as well as support for opportunities to work outside Pluang.

"We believe that the efforts that have been, are medium, and we will be able to continue to encourage and strengthen the company's commitment to innovating, as well as open wider and equitable investment access for every layer of Indonesian society to achieve financial independence," he concluded.

However, Pluang will continue to maintain and improve the quality of services as well as the comfort and security of Pluang users in investing, diversifying assets, and carrying out trading activities.