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Sea Group's Shopee said to lay off staff across several SE Asian markets
Sea Group's Shopee said to lay off staff across several SE Asian markets
$Sea(SE.US)$'s e-commerce arm Shopee is said to be executing layoffs across multiple markets in the region as it seeks to rationalise its e-commerce business, DealStreetAsia has learnt.
The layoffs have affected employees across several of the company's Southeast Asian markets including Indonesia, Thailand and Vietnam, several sources told DealStreetAsia. The company is said to have sent an email communication to employees affected by the layoffs, the sources mentioned above added.
Shopee's payments arm ShopeePay and food delivery business ShopeeFood are also said to be facing cuts. A town hall meeting was also reportedly held on Monday to address the job cuts with Shopee employees.
The extent of the job cuts and the number of employees impacted by the layoffs could not be ascertained at the time of publishing this article. DealStreetAsia has reached out to Shopee for comment.
Two sources aware of the matter said nearly half of Shopee Thailand's payment and food delivery teams have been impacted by the downsizing move. One of the sources mentioned above said the communication to affected employees was said to be managed in an off-handed manner, with the company asking staff members to return home and await an email indicating their termination.
A separate source told DealStreetAsia that Shopee has, of late, been on a hiring freeze, with several offers to regional roles being rolled back by the company.
While Sea Group's business continues to show signs of improvement in its overall profitability, most of its revenue continues to come from its gaming arm Garena. Sea Group's Q1 2022 financials reflected a 64.4% YoY increase in GAAP revenue at $2.9 billion, with gross profits soaring 81.3% to $1.2 billion over the same period.
Shopee's business, while still loss-making, has also reflected improvements, with a 71.3% YoY increase in orders to $1.9 billion in Q1 2022 while the GMV rose 38.7% to $17.4 billion. Importantly, Shopee's gross profit margin for e-commerce increased YoY, with faster growth in transaction-based fees and advertising income-generating higher margins versus other value-added services.
Shopee, however, continues to face several macro headwinds including rising inflation and interest rates that may dampen retail and consumption sectors.
The firm also appears to be facing setbacks on some of its ambitious internationalisation plans including its forays into Europe and Latin America. Shopee, which has operations in Poland and Spain, decided to pull out of France after only five months as it was not meeting expectations.
In March this year, Sea Limited ended its e-commerce foray in India, about six months after it entered the country, and just a month after it pulled out of France. The move led to the axing of some 300 Shopee jobs in the south Asian country. An Indian government clampdown had already banned Garena's Free Fire in the country.
Meanwhile, Shopee's competition at home continues to remain with $Grab Holdings(GRAB.US)$, GoTo and others still vying for an ever-larger share of the e-commerce pie. Apart from Southeast Asia, Shopee is also present in China Taiwan, Brazil, Mexico, Chile, and Colombia.
Apart from Shopee, several other Southeast Asian startups have also undertaken similar job cut exercises as they seek to preserve cash in the midst of the global downturn. In Indonesia, venture-backed startups like Lummo, LinkAja, JD.ID, Pahamify and Zenius have laid off hundreds of employees in order to slash their operating burn.
$Sea(SE.US)$'s e-commerce arm Shopee is said to be executing layoffs across multiple markets in the region as it seeks to rationalise its e-commerce business, DealStreetAsia has learnt.
$Sea (SE.US) $DealStreetAsia获悉,据说其电子商务部门Shopee正在该地区的多个市场进行裁员,以期合理化其电子商务业务。
The layoffs have affected employees across several of the company's Southeast Asian markets including Indonesia, Thailand and Vietnam, several sources told DealStreetAsia. The company is said to have sent an email communication to employees affected by the layoffs, the sources mentioned above added.
多位消息人士告诉DealStreetAsia,裁员影响了该公司多个东南亚市场的员工,包括印度尼西亚、泰国和越南。上述消息人士补充说,据说该公司已向受裁员影响的员工发送了一封电子邮件。
Shopee's payments arm ShopeePay and food delivery business ShopeeFood are also said to be facing cuts. A town hall meeting was also reportedly held on Monday to address the job cuts with Shopee employees.
据说Shopee的支付部门ShopeePay和送餐业务ShopeeFood也面临裁员。据报道,周一还举行了一次市政厅会议,讨论Shopee员工的裁员问题。
The extent of the job cuts and the number of employees impacted by the layoffs could not be ascertained at the time of publishing this article. DealStreetAsia has reached out to Shopee for comment.
在发表本文时,尚无法确定裁员的程度和受裁员影响的员工人数。DealStreetAsia 已联系 Shopee 征求意见。
Two sources aware of the matter said nearly half of Shopee Thailand's payment and food delivery teams have been impacted by the downsizing move. One of the sources mentioned above said the communication to affected employees was said to be managed in an off-handed manner, with the company asking staff members to return home and await an email indicating their termination.
两位知情人士称,Shopee Thailand的付款和送餐团队中有近一半受到裁员举措的影响。上述消息人士之一说,据说与受影响员工的沟通是以不随手的方式进行的,该公司要求员工返回家中,等待一封表明他们被解雇的电子邮件。
A separate source told DealStreetAsia that Shopee has, of late, been on a hiring freeze, with several offers to regional roles being rolled back by the company.
另一位消息人士告诉DealStreetAsia,Shopee最近冻结了招聘,该公司撤销了几份区域职位的提议。
While Sea Group's business continues to show signs of improvement in its overall profitability, most of its revenue continues to come from its gaming arm Garena. Sea Group's Q1 2022 financials reflected a 64.4% YoY increase in GAAP revenue at $2.9 billion, with gross profits soaring 81.3% to $1.2 billion over the same period.
尽管Sea Group的业务继续显示出整体盈利能力改善的迹象,但其大部分收入仍然来自其游戏部门Garena。Sea Group的2022年第一季度财务状况显示,GAAP收入同比增长64.4%,达到29亿美元,同期毛利增长81.3%,达到12亿美元。
Shopee's business, while still loss-making, has also reflected improvements, with a 71.3% YoY increase in orders to $1.9 billion in Q1 2022 while the GMV rose 38.7% to $17.4 billion. Importantly, Shopee's gross profit margin for e-commerce increased YoY, with faster growth in transaction-based fees and advertising income-generating higher margins versus other value-added services.
Shopee的业务虽然仍在亏损,但也有所改善,订单同比增长71.3%,达到2022年第一季度的19亿美元,而GMV增长了38.7%,达到174亿美元。重要的是,Shopee的电子商务毛利率同比增长,与其他增值服务相比,基于交易的费用增长更快,广告创收的利润率也更高。
Shopee, however, continues to face several macro headwinds including rising inflation and interest rates that may dampen retail and consumption sectors.
但是,Shopee继续面临一些宏观阻力,包括通货膨胀率上升和利率上升,这可能会抑制零售和消费行业。
The firm also appears to be facing setbacks on some of its ambitious internationalisation plans including its forays into Europe and Latin America. Shopee, which has operations in Poland and Spain, decided to pull out of France after only five months as it was not meeting expectations.
该公司在一些雄心勃勃的国际化计划中似乎也面临挫折,包括进军欧洲和拉丁美洲。在波兰和西班牙开展业务的Shopee在短短五个月后就决定撤出法国,因为它没有达到预期。
In March this year, Sea Limited ended its e-commerce foray in India, about six months after it entered the country, and just a month after it pulled out of France. The move led to the axing of some 300 Shopee jobs in the south Asian country. An Indian government clampdown had already banned Garena's Free Fire in the country.
今年3月,Sea Limited在进入印度大约六个月后,在撤出法国仅一个月后,就结束了在印度的电子商务业务。此举导致Shopee在南亚国家裁掉了约300个工作岗位。印度政府的镇压已经禁止了加雷纳的自由射击进入该国。
Meanwhile, Shopee's competition at home continues to remain with $Grab Holdings(GRAB.US)$, GoTo and others still vying for an ever-larger share of the e-commerce pie. Apart from Southeast Asia, Shopee is also present in China Taiwan, Brazil, Mexico, Chile, and Colombia.
同时,Shopee在主场的竞争仍然存在 $Grab Holdings (GRAB.US),GoTo和其他公司仍在争夺电子商务市场中越来越大的份额。除东南亚外,Shopee 还在中国台湾、巴西、墨西哥、智利和哥伦比亚开展业务。
Apart from Shopee, several other Southeast Asian startups have also undertaken similar job cut exercises as they seek to preserve cash in the midst of the global downturn. In Indonesia, venture-backed startups like Lummo, LinkAja, JD.ID, Pahamify and Zenius have laid off hundreds of employees in order to slash their operating burn.
除Shopee外,其他几家东南亚初创公司也进行了类似的裁员活动,以期在全球经济低迷时期保留现金。在印度尼西亚,风险投资支持的初创公司如Lummo、LinkaJA、JD.ID、Pahamify和Zenius已经解雇了数百名员工,以减少他们的运营消耗。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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