Singapore/New Delhi, Sep 3 (Ajit Weekly News) E-commerce giant Sea has slashed more jobs in its gaming division Garena as well as at its research and development arm amid deep revenue losses.
According to a report in The Straits Times, this is the second time Sea has trimmed its workforce in the Garena gaming division as the company aims to reduce losses.
Sea’s e-commerce platform Shopee has also revoked a number of job offers for positions at its headquarters in Singapore.
One of the prospective employees who was headed to Singapore on August 28 to join Shopee received a call that his job offer has been rescinded.
Another employee was informed shortly that his job offer remained no more as he landed in Singapore, along with his wife and dog, and was at the immigration, according to reports.
In a statement to Marketing-Interactive, Shopee said: “Due to adjustments to hiring plans on some tech teams, a number of roles at Shopee are no longer available. We are working closely to support those affected.”
In March, Sea announced to shut operations of its e-commerce portal Shopee in India amid criticism from the local industry bodies and the government banning its marquee game ‘Garena Free Fire’ along with 53 Chinese apps in the country.
The company, however, said the decision to shut down e-commerce business in India has nothing to do with the government’s ban on its popular game, but owing to “global market uncertainties”.
The Indian government’s ban on ‘Garena Free Fire’ in February, along with 53 other Chinese apps, had sent its stocks tumbling.
Sea’s stock sank by 19 per cent as it lost $16 billion in New York on February 14, the steepest decline, though analysts speculated the revenue from India could be less than 10 per cent.
–Ajit Weekly News
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