E-Commerce Giant Faces Profitability Challenges Amidst Continued Job Cuts
SINGAPORE: Shopee, the e-commerce arm of Sea Limited, has commenced its third round of layoffs in 2022, with some employees in Singapore among those affected. This latest round of job cuts is part of the company’s ongoing efforts to streamline its operations as it grapples with the challenge of achieving profitability.
The layoffs, which were reported by The Straits Times on November 14, were notably more subdued compared to previous rounds. While rumours had circulated about potential job cuts, the exercise caught many employees by surprise. Affected teams included human resources and learning and development, with several employees sharing their experiences on LinkedIn.
One multimedia artist at Shopee recounted receiving the news shortly after arriving at the office in the morning. “We were told that there would be another round of layoffs, and some of us would be affected,” she wrote. She shared that the news hit particularly hard when she learned that her entire team was impacted. Another employee, a graphic designer, mentioned that most of her colleagues were affected by the cuts.
It remains unclear how many employees in Singapore were affected, as Shopee has yet to comment on the specifics. This round of layoffs follows a series of job cuts throughout the year, including the rescinding of job offers in June and further reductions in September, which impacted roles in human resources, regional operations, marketing, and engineering.
As with other tech companies like Meta and Twitter, Shopee’s job cuts are part of a broader trend within the tech industry, which is navigating tough macroeconomic conditions.
