KUALA LUMPUR, Sept 30 — JobStreet.com Sdn Bhd has promised that there will be no retrenchment following discussions over a possible acquisition of the online employment company by SEEK Asia Investment Pte Ltd. 

JobStreet Chief Executive Officer Mark Chang said he had raised the issue during talks with SEEK management in February this year, and the Australian jobs site had no intention to carry out a retrenchment exercise.

“SEEK CEO does not have any plan to retrench JobStreet staff, instead they plan to grow the company.

“He gave a verbal commitment, but what happen later it’s up to the new owner,” Chang told reporters at the launch of Soukai.my here today.

Job Street’s employees had aired their concern over a possible retrenchment following talks on the acquisition of the Kuala Lumpur-based job portal, now worth RM1.8 billion, by SEEK.

Chang said SEEK is still awaiting approval from Singapore’s authorities to conclude the deal.

“They (SEEK) need to get a clearance from the Competition Commission Singapore who requires more information from them,” he added.

In February, SEEK announced that it would buy JobStreet which operated in the growing market of Malaysia, Singapore, Indonesia, the Philippines and Vietnam.

SEEK is expected to combine the operations of JobStreet and that of JobsDB, its other majority-owned Asian online employment business to create a compelling online employment marketplace in Asia. — Bernama