Shopee Thailand to lay off about 10% of employees
Shopee started a major restructuring charge and it includes plans to lay off more employees of Shopee Thailand. About 10% of jobs will be cut, and it is expected to affect about 100 employees.
The Singaporean multinational technology company, a subsidiary of Sea Limited, has restructured its business in many countries this year to make the company more self-sufficient, they say.
In the past two years, Shopee closed its businesses in Argentina, India, and France.
Shopee Pte. Ltd cut 10% of jobs in China and 3% in Indonesia this year while the company terminated the employment of 300 workers in ShopeeFood and ShopeePay in Thailand in June.
Branches in Chile, Colombia, and Mexico also laid off most of their employees and opted for cross-border operations.
According to the report, the company announced the new restructuring plans in a town hall meeting yesterday. The management announced it would try to streamline the company and increase operational efficiency to make Shopee more agile and able to develop long-term growth.
The Shopee board said during the town hall meeting that the new operational measures would affect some Thai employees. The staff would be reduced by less than 10% in response to the challenging economic situation.
On September 15, Bloomberg also reported that the Chairman and CEO of Sea, Forrest Li, had sent an email to each staff member that said…
“The leadership team has decided that we will not take any cash compensation until the company reaches self-sufficiency.”
SOURCE: Khaosod | Brand Inside | Bloomberg
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