Macro uncertainty is probably what is on every company’s mind due to the recent global political disruptions and the process of recovering from the pandemic.
Many companies have started to lay off employees due to the reasons and Singapore-based Shopee is one of them.
According to CNA, sources and an internal email from Shopee states that it will be shutting down operations in Chile, Columbia, Mexico and Argentina.
This news came shortly after Shopee retracted multiple job offers in the previous weeks.
Will Maintain Cross-Boarder Operations
Shopee has stated that although they will be closing down local operations in Chile, Columbia and Mexico, they will still maintain cross-boarder operations.
This means that dozens of employees in the three affected countries will be laid off.
Meanwhile, the operations in Argentina will be completely shut down.
Focusing on Core Operations
In an internal email seen by Reuters, Shopee’s Chief Executive, Chris Feng stated that due to the unstable condition of the economy, the company needed to shift its focus on core operations.
Hence, the decision to concentrate on a cross-boarder model in the three countries mentioned.
Another well-known company that has recently started to lay off its employees is foodpanda, which has laid off 5% of its overall employees in Singapore.
This is to ensure that the company can continue to bring in profits and remain competitive in the ever-changing society.
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Shopee Laid Off Employees in June
Back in June 2022, Shopee also laid off its employees in its food delivery ShopeeFood and ShopeePay teams in Southeast Asia.
The reason given for the laying off back then by the company was “to optimise our operations in certain segments and markets”, which is essentially the same reason as the one they are giving now.
Shopee did state that it was a crucial but hard decision to make and that they will be giving support to their employees during this phrase of transition.
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Featured Image: Emoji Dream / Shutterstock.com
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