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Hello reader,
The other day, I was chatting with a classmate after our exercise class had wrapped up. We were talking about long-distance relationships – don’t ask me how we got to that point – and she mentioned that she only saw her partner once a month because he had relocated to Poland for work.
She shared that this move led to many questions about the future – if they were to settle down and start a family, he’d have to move back to Singapore, and that might entail him quitting his job. It’s clear that relocating comes with a lot of considerations, and it’s not an easy decision for anyone.
Today’s premium story shines a light on the team relocation going on at Shopee in Indonesia – it’s focused on the technical details, but let’s also remember the actual human beings affected by the ecommerce major’s move and the decisions that they’ve had to make.
Today we look at:
- Shopee relocating teams in Indonesia
- An Indian SaaS firm’s lowered valuation and what it means for the industry
- Other newsy highlights such as Zomato’s market capitalization increase and Do Kwon being set for extradition to South Korea
Premium summary
Going elsewhere
Image credit: Timmy Loen
Shopee is transferring its customer operations team from Jakarta to Solo and Yogyakarta, located around 500 kilometers from Indonesia’s capital. This decision has “affected” hundreds of employees, according to the company.
- In the works: In a statement to Tech in Asia, the ecommerce giant said it has been preparing for the move over the past year and had offered relocation options to eligible team members.
- For those who said no: Employees who refused to relocate will receive severance pay in accordance with Indonesian regulations and get additional support such as health insurance for the next three months.
- Background details: This move follows a strong start to 2024 by Sea Group, Shopee’s parent company. In the first quarter of this year, Sea’s overall revenue was up 23% from Q1 2023, while its adjusted EBITDA fell 21% year on year. Shopee was a key driver of this growth.
Read more: Hundreds ‘affected’ by Shopee’s team relocation in Indonesia
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