Shopee continues its retrenchment exercise

[BabyBlade]

https://www.straitstimes.com/business/companies-markets/shopee-cuts-singapore-jobs-in-regional-layoffs-says-affected-staff-will-get-appropriate-compensation-packages

SINGAPORE - Employees affected by e-commerce platform Shopee's latest round of job cuts will be given "appropriate compensation packages" in line with market norms, the firm said in a joint statement with the Creative Media and Publishing Union (CMPU) on Monday.

This comes as some staff in Singapore were informed that they were part of further layoffs on Monday.

The Straits Times understands that a low single-digit percentage of Shopee workers are affected, although it is not clear how many of the platform's regional markets will be hit in this latest cost-cutting exercise.

Shopee's layoffs include employees in human resources, regional operations, marketing, and product and engineering, The Business Times reported on Monday.

It also cited sources saying that some workers, including those in Singapore and China, began receiving e-mail notices of their layoffs shortly after department-wide town halls on Monday.

Shopee, the e-commerce arm of New York Stock Exchange-listed Sea, had earlier this year cut workers in its ShopeeFood and ShopeePay teams in the region.

Its parent company has been undertaking extensive cost-cutting measures in recent months, with questions over its money-making prospects intensifying amid the challenging global environment and widespread decline in technology stocks.

Maybe they shouldn't have splurged on such extravagance. 😶

[Jamesc]

Not my money just spend lah.

Marketing only job is to spend money.

If don't spend money not doing my job.

Whether got returns or not, most management don't know how to check.

 

[Vratenza]

Only those "Celebrities" on their TV commercial earn and run road liao......

[Windwaver]

No need such nice office lah says Nikkei Asia 

https://asia.nikkei.com/Spotlight/Coronavirus/From-Singapore-to-Japan-workers-get-restless-as-offices-call

One might assume that this was the result of pandemic disruptions and months or years of remote work. But a closer look at the data shows that those who worked on-site felt the least connected, versus their remote- or hybrid-working peers.

[ToyotaShuttle]

1 hour ago, BabyBlade said:

Maybe they shouldn't have splurged on such extravagance. 😶

Gym is an extravagance? For such a huge office, I don't think it is. Many companies (including boomer ones like Singtel) have inhouse gym.

[Kxbc]

Not my money so spend Lor. My shareholders also not looking for profitability. They only looking for more usage, subsidise neverrmind one as long as valuation goes up. The next sucker will buy my shares at a higher price then I can cash out liao. 

My employees all strawberry gen, all looking for for experiences, nice things. If not, how to recruit them? 

Right bo? 😁

[Jellandross]

Forgoing salary is like removing one tree from his whole Forrest.

 

Edited September 19, 2022 by Jellandross

[Sosaria]

2 hours ago, ToyotaShuttle said:

Gym is an extravagance? For such a huge office, I don't think it is. Many companies (including boomer ones like Singtel) have inhouse gym.

Gyms don't cost that much to set up, in the greater scheme of things. Couple of thousand settle liao. Employees happy. 

People just get the impression that it's extravagant because it's totally unrelated to work.

[Sosaria]

26 minutes ago, Jellandross said:

Forgoing salary is like removing one tree from his whole Forrest

Good for morale, though. And good PR.

[Volvobrick]

Everyone's job is at risk. 

 

Except Jamesc's - unless Shopee gets rid of the massage room too.

Edited September 19, 2022 by Volvobrick

[Shibadog]

1 hour ago, Sosaria said:

Gyms don't cost that much to set up, in the greater scheme of things. Couple of thousand settle liao. Employees happy. 

People just get the impression that it's extravagant because it's totally unrelated to work.

agreed it's not that large an extravagance in the greater scheme of things, but it's certainly not a "couple of thousand". Branded machines are low 5 digit each liao. And that was way back in the day when Nautilus was still in the gym game. But for an employee base of 1,000 in SG, it's probably just a drop in the ocean, relatively speaking. It's all part of the cost to build a brand. 

[Thaiyotakamli]

Who ask them hire jackie chan, ronaldo etc

[Benarsenal]

Pi pi pi some more la. Advertisement so kaopeh.

[Windwaver]

So moral of the story is 'not buy so much from Shopee'? 

[Throttle2]

Shiok.  Hope more people get retrenched.  Retrenchment is shiok.

i like it. 

[Scion]

normal cycle for giant tech companies lah, same in both US and China

free lunches, free gym, free massage

u enjoy higher pays and better benefits, but when things turn south, the risk of retrenchment also much higher

[D3badge]

6 hours ago, Benarsenal said:

Pi pi pi some more la. Advertisement so kaopeh.

Sound like Subaru thus both sales decline ?

[Jman888]

45 minutes ago, Windwaver said:

So moral of the story is 'not buy so much from Shopee'? 

I'm guilty, haven't been buying much from shopee, me also tightening