SINGAPORE - Sea Limited is cutting more jobs at e-commerce unit Shopee in Indonesia, days after reporting a surprise first-ever quarterly profit helped by last year’s extensive firings.
The latest cuts affect fewer than 500 full-time and contract workers in Shopee’s customer service team in Indonesia, according to a person with direct knowledge of the matter. Those affected were notified on Thursday, the person said.
A representative for Sea did not immediately respond to a request for comment.
In September, Bloomberg reported that Sea cut 3 per cent of employees at the Indonesian unit.
The Singapore-based e-commerce, gaming and fintech provider last year cut more than 7,000 jobs, froze salaries and trimmed spending, helping it to swing to a profit in the fourth quarter.
Sea chief corporate officer Wang Yanjun told analysts on Tuesday’s earnings call that the company does not foresee any further major changes with regard to headcount.
South-east Asia’s largest Internet firm racked up its biggest single-day gain in months on Tuesday after reporting the surprise profit – energising investors who are hoping that the company will pull off one of the biggest turnaround efforts the region’s fledgling tech sector has ever witnessed. BLOOMBERG