Sea’s e-commerce arm Shopee laying off staff across Southeast Asia: Report

Sea Group’s e-commerce arm Shopee, which shut its India operations in March, is laying off staff across Southeast Asia, including Indonesia, Thailand and Vietnam, media reports said on Tuesday.

According to DealStreetAsia, the layoffs have hit employees across several of the company’s Southeast Asian markets and Shopee has emailed those affected by the layoffs.

“Shopee’s payments arm ShopeePay and food delivery business ShopeeFood are also said to be facing cuts,” the report noted.

The move by the company is reportedly aimed at “rationalising its e-commerce business” as rising inflation and high interest rates have hit the startup ecosystem globally.