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Startups

Bukalapak shifts focus to profits as WeWork woes dull shine of Asian unicorns

Job cuts at Indonesia's fourth-biggest unicorn marks latest downsizing by major startup

Indonesian online retailer Bukalapak cut around 100 jobs as the company shifts focus toward sustainability. (Photo by Erwida Maulia)

JAKARTA -- Indonesia's Bukalapak has become the latest Asian internet startup to shift gears from go-go to go-slow with a round of job cuts as investors increasingly demand that e-commerce companies focus on profitability instead of growth.

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