2024-09-19 07:25:27 +0300

Sea Plans to Fire 3% of Shopee Indonesia Staff

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Bloomberg
By Olivia Poh

Sea Ltd. is preparing to fire 3% of Shopee employees in Indonesia, part of a broader wave of regional job cuts intended to curb ballooning losses and win back investors.

The Singapore-based company will begin notifying affected staff Monday at its cash-burning e-commerce arm Shopee, according to an internal memo seen by Bloomberg News. Overall, Sea plans to reduce headcount at the division by a low-single-digit percentage, a person familiar with the matter said, asking to remain anonymous discussing internal actions.

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