StartupsSoutheast Asian startups tighten belt as coronavirus hits revenue
Companies cut marketing and halt expansion to stay afloat
Malaysia-based flower delivery startup BloomThis has been forced to cut all marketing expenses as the country's ban on mass gatherings and most aspects of travel have hurt demand. (Photo courtesy of BloomThis)
DYLAN LOH, Nikkei staff writer
SINGAPORE -- As the world fights the novel coronavirus pandemic, Southeast Asian startups face another battle: Cash burn. With economic activity paralyzed by the outbreak, many startups are scrambling to cut costs -- slicing payrolls and the wages of those still on the job.