Iflix, the multi-territory streaming firm based in Malaysia, has confirmed a significant wave of job cuts. The company is under pressure during the coronavirus crisis and ahead of debt repayment de…
The company is believed to be laying off 65 people across its various locations.
“We remain focused on driving the business through to breakeven in 2021 and these steps are part of ensuring we remain on that path and can navigate the current challenges. We are naturally doing all we can to support the staff affected both professionally and personally.” Hooq was available in five territories: Singapore, The Philippines, Indonesia, Thailand and India. Iflix is available in 13 territories in South East Asia and the Middle East.
In its letter to shareholders, Iflix acknowledged that current circumstances mean that its planned IPO on the Australian Securities Exchange is unlikely to go ahead by mid-year.
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