Love, Bonito retrenches 14 in S'pore

Love, Bonito, a homegrown apparel retailer, cut 14 roles in Singapore in its global retrenchment exercise.

A total of 29 corporate roles, or about 6.9 per cent of its workforce, were cut globally.

A payout based on length of service will be given, and "impacted individuals" will receive "a supportive package in line with local regulations", said Dione Song, CEO of Love, Bonito, which started out as a blogshop.

Other measures to help those affected include encashment of pro-rated annual leaves and notice period, extending medical insurance, as well as working with relevant agencies to provide career transition support, alongside recommendation letters.

Love, Bonito has 26 stores in Asia, such as Singapore, Malaysia, Indonesia, Cambodia, Hong Kong and the Philippines.

The fashion label initially secured US$50 million in funding in 2021 in a bid to expand to markets, such as the United States.

Top photo via Google Maps