Throughout the pandemic, many tech firms have gone on hiring sprees with some companies even paying top dollar for talented individuals.
However, as the global economic situation becomes more uncertain, it seems some firms will be scaling back.
According to multiple reports, a memo from Shopee’s chief executive Chris Feng states that the company will be making “adjustments” to optimise its operations.
Source: Glassdoor
This comes just months after Shopee pulled out of the French and Indian markets earlier in March.
While it’s unclear how many staff members will be laid off and in which countries, Shopee has shared that they will do their “very best” to support the affected workers.
According to The Straits Times (ST), Mr Feng sent an internal memo on Monday (13 Jun) announcing that Shopee is laying off workers in its ShopeeFood and ShopeePay teams in Southeast Asia.
Source: Glassdoor
Teams in other countries like Chile, Argentina, and Mexico will also be affected, as will a cross-border team supporting the Spanish market. Mr Feng said,
(Given) elevated uncertainty in the broader economy, we believe that it is prudent to make certain difficult but important adjustments to enhance our operational efficiency and focus our resources.
Although the retrenchments will come soon, Mr Feng reiterated that it will be business as usual.
The memo reportedly does not state which Southeast Asian countries the layoffs will affect.
ST notes that Shopee has outposts in Malaysia, Indonesia, Vietnam, Thailand, and the Philippines. Its regional headquarters are located in Singapore.
Since such a major restructure would undoubtedly impact many families, Mr Feng added that the company will do “the very best” they can to support the staff they let go.
MS News has reached out to Shopee for comments and will update the article when they get back.
After going on a hiring spree during the pandemic, it looks like many tech companies are starting to cut jobs instead.
Hopefully, not too many Shopee employees will lose their jobs.
Additionally, we hope the affected workers will be able to get the necessary support and find new work in no time.
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from Glassdoor.
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