With capital drying up, tech firms are doing everything to stay afloat

KPMG has found that 86% of CEOs across the globe believe that a recession will arrive in the next 12 months. In the same survey, 51% said they are considering workforce reduction in the next six months.

Earlier in September, Shopee made headlines for another round of retrenchments, following layoffs in its food delivery and online payment arms in June. It also rescinded dozens of job offers after parent company Sea reported slowing revenue growth and mounting losses.

In its latest quarterly results, Sea reported an operating loss of US$659 million. CEO Forrest Li said the company’s primary objective for the next 12 to 18 months is to achieve self-sufficiency and to reach positive cash flow as soon as possible.

Since job seeking is becoming more and more complicated these day, is it hard to find a job with 1-2 years of experience?