Video on-demand iflix to cut staff; forced by cost-cutting measures

This week's layoffs are not the first for iflix
Video on-demand iflix to cut staff; forced by cost-cutting measures 25

Malaysia’s video on-demand platform, iflix, is planning to cut numbers of its staff as part of cost-cutting measures.

The exact number was not disclosed, the estimated number from different sources indicated a layoff between 50 and 65 staff.

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Iflix was founded in 2014 and is backed by Southeast Asia internet company Catcha Group. Last month, the company offered a one-month VIP access to everyone while Malaysia has just announced the Movement Control Order (MCO).

The company is planning to go for initial public offering (IPO) in July 2020. The company’s decision on the layoffs is one of the steps to help the company achieving breakeven in 2021.

This recent layoffs are not the first for iflix, the company had let go of staff at various points since 2016.

Alfred Lee
Journalist at News Asia Today. I write about topics related to lifestyle and entrepreneurship in Asia. Feel free to reach out to me at alfred [at] newsasiatoday.com. Also a big time foodie.