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Sendle, AirTasker Fire Staff As Tech Bubble Bursts

It seems that taking on Australia Post isn’t as easy as Sendle hoped, with parcel delivery start-up making 12 per cent of its staff redundant in a “pre-emptive step”, as we move into a new financial year.

“We’ve seen up-close the impact of increasing capital market volatility, and like many large technology companies, felt we needed to take pre-emptive steps to ensure we can continue to grow, while being able to withstand any continued market uncertainty over the next two years,” Co-founder and chief executive of Sendle James Chin Moody told the AFR.

“We made the very difficult but prudent decision to make a small number of redundancies across all departments, equating to about 12 per cent of our current global workforce.”

This decision means around 26 staffers were made redundant.

“Our strategy hasn’t changed,” Chin Moody continued.

“We are cementing our position as the most reliable, most affordable and most loved national courier in Australia and the United States.

“We are also launching into Canada, our third global market, later this year.”

Sendle’s business doubled during the pandemic, when online shopping went from a nascent industry to a must. As business has steadied, so too has the rapid staffing growth.

Airtasker has also been forced to cut nine jobs, including a number of its marketing team, and its head of data.

“As a company, we have always strived towards reaching our goals in a lean way and in the current macroeconomic environment, this has never been more important,” CEO Tim Fung.

“Whilst this decision was incredibly difficult to make and we were sad to see some great people move on from our team, we’ve never been more inspired by Airtasker’s mission and more confident in the impact that we can deliver through our marketplaces across the world.”

Airtasker is up 3.85 per cent in trading this morning, but has crashed over 68 per cent in the last six months.

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