Lokesh Choudhary · · 1 min readSG government to support Lazada’s retrenched workforce
Photo credit: Lazada
Digital Industry Singapore (DISG), a joint government office, is helping workers in the city-state that have been affected by the recent Lazada layoffs in finding new jobs. The Economic Development Board, Enterprise Singapore, and the Infocomm Media Development Authority are also reportedly providing support.
In a statement to The Straits Times, DISG executive director Chan Ih-Ming said that “DISG is working closely with Lazada and relevant government agencies to assist affected employees in seeking alternative employment opportunities.”
Separately, a DISG spokesperson told CNBC on Wednesday that the office is making proactive adjustments to transform the workforce to “better position ourselves for a more agile, streamlined way of working to meet future business needs.”
Lazada, under Alibaba, is facing tough competition from the likes of Sea Group’s Shopee. Particularly in Indonesia, Lazada will see fiercer competition from Tokopedia, which recently partnered with TikTok in the region. As part of the deal, TikTok will acquire a 75% stake and invest US$1.5 billion into Tokopedia.
In December, Alibaba invested an extra US$634 million in Lazada to deepen the ecommerce firm’s war chest. With this, Alibaba poured in US$1.8 billion into Lazada in total in 2023.
See Also: Lazada expected to let go up to 30% of staff: sources
Editing by Miguel Cordon and Jaclyn Tiu
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