Sea cuts jobs in shopping, food amid global volatilityBloombergSea Ltd (冬海) is making its first major job cuts in areas spanning shopping and food, joining other tech firms downsizing this year in anticipation of unprecedented market and economic volatility. The cuts would also extend across its Mexico, Argentina and Chile teams, as well as the cross-border team supporting Spain. He said the job cuts are to ensure that the business remains in the “best possible position” to continue scaling sustainably. The dismissals come after Sea revised its full-year outlook for e-commerce sales, its main source of revenue, to US$8.5 billion to US$9.1 billion from its previous guidance of US$8.9 billion to US$9.1 billion. “This reallocation of resources to further focus on our priorities will help us grow our business even better,” Feng wrote.

Source: Taipei Times June 14, 2022 17:31 UTC