Pomelo, the e-commerce start-up from Thailand, is cutting down its number of employees across functions.
Not surprising! The year 2022 has seen many firms doing so to battle the economic slowdown.
The fashion e-tailer has, reportedly, slashed around 55 workers, which is 8 per cent of it headcount.
The start-up firm added that it streamlined its processes to move towards more sustainable growth.
Notably, the e-tailer is working towards raising external capital and has engaged banks like Morgan Stanley to help in the same.
In August, Pomelo secured about US $ 10 million from current investors including Jungle Ventures. It has raised around US $ 83 million from investors that include the likes of JD.com Inc.
Both Pomelo and Morgan Stanley, however, haven’t responded as yet on the fund-raising effort.
Pomelo focuses on products produced in Asia and is known mainly for apparels, shoes and accessories.
