Ecommerce giant Shopee is downsizing its teams in Taiwan and the Philippines as it continues cost-cutting measures globally.
Photo credit: Shopee
Taiwan News reported confirmation from Shopee that it was laying off staff from its offices in the country. The local news site also said dozens of employees were asked to pack their things and leave on Monday – the same day they received the notice.
Separately, Philippine news site Inquirer quoted sources that the layoffs in the country would reduce the workforce by “a low single-digit percentage.” It added that the move would likely not affect the firm’s core operations in the Philippines.
A representative from Shopee Philippines confirmed the layoffs to Inquirer, saying the changes were part of its efforts to “achieve self-sufficiency” and that it would extend support to those affected during the transition.
These layoffs follow the ecommerce firm cutting back operations globally – including jobs in its headquarters in Singapore as well as in its offices in China and Indonesia. It has laid off 180 employees in these markets, or around 3% of its workforce.
Its staff in Indonesia were informed of the news on September 26. Laid-off employees will reportedly receive severance pay and compensation.
Earlier this month, layoffs hit four of Shopee’s Latin American operations, where it pulled out of Argentina and closed local operations in Chile, Colombia, and Mexico.
In March, Shopee also exited from France and India, after having only started operations in both markets a year earlier.
In its financial report for the second quarter of the year, Sea Group announced it would suspend its 2022 revenue forecasts for Shopee, which contributed around 60% of its total revenue the previous quarter.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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