Sea Layoff 7,000 employees in 6 months, Shopee Page most affected all

KOMPAS. com – The world’s tech industry has been hit by a storm termination of work (layoffs) in the last months.

The largest technology company in Southeast Asia, Sea group Limited (Ltd) has not been spared this storm of layoffs. Sea itself has three main businesses, namely the market Shopeevideo game Garenaand the SeaMoney banking sector.

According to a report by The Information, Mare srl it has reportedly laid off 7,000 of its employees in the past six months. This figure represents 10 percent of SEA’s total employees.

This was done because Sea was struggling to make a profit. At least this according to sources familiar with the matter.

Read also: Amazon will lay off 10,000 employees, the most in history

From the storm of layoffs overboard, Shopee was said to be the hardest hit company. According to insider information, Shopee just returned to layoffs on Monday (11/14/2022).

This is said to be Shopee’s third round of layoffs for all of 2022, following last September’s round of layoffs.

There is no information on the number of Shopee employees affected by layoffs this November. Also, what areas of Shopee’s operations have workers laid off? However, this round of Shopee layoffs has affected a number of Team employees this time around, including those in HR and Development.

Angelica Pasiola admits to being a Shopee Singapore employee who was recently made redundant. In a post on her LinkedIn page, Pasiola said he just received news that he was fired when she came to the office on Monday (11/14/2022) morning.

Shopee Singapore has not confirmed the news of the third round of layoffs. In a written statement, Shopee Singapore merely stated that it wants to achieve self-sufficiency (meeting the needs of its businesses).

Read also: Shopee Indonesia Employee layoffs, how is the business operation?

“We are continually reviewing our projects and business priorities closely to ensure we optimize operational efficiency, in line with our goal of achieving self-sufficiency. We will also support our affected colleagues during this transition,” Shopee said as filled in KompasTekno from The Times of StaritWednesday (16/11/2022).

Shopee batch two layoffs – September 2022

As previously reported, Shopee fired its second round of layoffs in mid-September.

At that time, a subsidiary of Sea Ltd engaged in e-commerce reportedly laid off 10% of Shopee Thailand employees, about 10% of Shopee China employees and 3% of Shopee Indonesia.

Shopee’s business, which is not doing well, has also forced Shopee to close its operating areas in several countries.

Read also: Shopee discontinues operations in Chile and Mexico, leaves Argentina

Shopee initially had business operations in a number of countries outside the Southeast Asia region, such as India, France, and Latin American countries, including Chile, Mexico, Colombia, and Argentina.

However, all areas of Shopee’s business operations in these seven countries have officially shut down through 2022.

When the second round of layoffs took place last September, Shopee founder, chairman and chief executive officer Forrest Li reportedly warned employees to save on company operating costs.

As a measure to reduce operating costs, Shopee will limit employee spending, limit employee business travel to inexpensive flights, and company executives will not receive bonuses for now.

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