JAKARTA -- COVID-19 has led many startups to review overheads in order to survive, but budget hotel chain RedDoorz -- a company in the pandemic-decimated travel sector -- had to dig deep.
The Singapore-based company, which operates in four countries in Southeast Asia, reduced its employees to 950 from 1,500 as it scrapped its plans to expand into Thailand. Salaries were cut across the board, including for executives. It developed its own software to replace third-party services, saving millions of dollars. Contracts with property owners were redrawn.
