Ninja Van retrenches 12% of workforce in S'pore

Ninja Van axed 12 per cent of its workforce in Singapore in its latest round of retrenchment exercise on Tuesday (Aug. 12).

In 2024, the courier company conducted two retrenchment exercises — once in April and once in July.

The April exercise affected 5 per cent of employees, while the one in July affected 10 per cent of its regional tech team, according to the company.

Streamlining headquarters functions

Ninja Van told CNA that the exercise was not carried out lightly and are part of a long-term effort to ensure sustainable growth and strengthen its business model.

"Unfortunately, despite our efforts to minimise impact, we were unable to avoid layoffs," Ninja Van told Mothership.

The company undertook a strategic restructuring of its teams following a review of roles across the organisation amid intense competition in Southeast Asia, CNA reported.

According to Tech in Asia, Ninja Van is streamlining its headquarters functions to focus on "tech-enabled B2B restocking and cold chain logistics".

Retrenched employees will receive a severance package, the company said.

This includes those with less than two years of service.

Medical insurance and mental health support will also be extended till the end of the year.

Ninja Van will also be provided career transition support, such as outplacement networking and providing recommendations and reference letters, upon request.

Ninja Van also said that employees with relevant skills have been considered for redeployment.

In 2024, Ninja Van's April retrenchment exercise took place on Apr. 29, just two days before May Day.

The timing of the April 2024 exercise drew the dismay of the National Trades Congress Union.

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Top image via Ninja Van / Facebook