Indonesian digital payments unicorn Xendit is laying off 5% of its staff in Indonesia and the Philippines. In a statement on Tuesday, the firm cited “uncertain macroeconomic conditions” for the retrenchment.
Tessa Wijaya, Xendit’s chief operating officer, said the company undertook comprehensive considerations before announcing the layoffs. “It is a difficult decision, but we need it to optimise our business for the short- and long-term,” said Wijaya.
