- DailySocial.id laid off its entire workforce in a major restructuring.
- CEO Rama Mamuaya hinted at a remaining content publishing team.
- This follows previous layoffs in August 2023 aimed at achieving profitability by year-end.
Shedding the newsroom
Indonesian startup-focused news platform DailySocial.id has laid off its entire workforce as part of a significant business restructuring.
CEO Rama Mamuaya confirmed the employment termination of all staff by the end of April to DealStreetAsia. Although the actual number remains undisclosed, LinkedIn data suggests 32 individuals were associated with the company.
Downsizing dilemma
Mamuaya stated that DailySocial.id would continue publishing content, hinting at a team still working at the firm. Further details on the restructuring are expected on May 2.
This development follows a wave of layoffs in August 2023, impacting 18 personnel due to “the economic situation and tech downturn.” At the time, Mamuaya aimed for profitability by year-end.
The August downsizing occurred shortly after launching DS/X Ventures, the firm’s VC arm investing in early-stage companies.
To read the original article: https://www.techinasia.com/idn-news-outlet-dailysocialid-lays-staff-major-restructuring
