Singapore-based fashion retailer Love, Bonito has laid off 6.9 per cent of its global workforce, affecting 29 corporate employees, including 14 in Singapore.
CEO Dione Song confirmed the layoffs, explaining that impacted staff will receive a compensation package, including payouts based on service length, encashment of pro-rated annual leave, and extended medical insurance. The company is also collaborating with local agencies to offer career transition support.
Love, Bonito, which began as a blogshop, has grown into a prominent fashion brand with 26 stores across Asia, including in Singapore, Malaysia, and Hong Kong. In 2021, the retailer raised US$50 million (RM237 million) to fuel its expansion into international markets, including the US.
