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Ecommerce giant Shopee is bracing for financial trouble. NurPhoto / Contributor / Getty images On September 15, Shopee CEO Forrest Li told employees the company would be restricting expense policies. Layoff conversations began September 19, affecting a low-single-digit percentage of Shopee employees. Shopee parent Sea Limited raised $ 6 billion in 2021, but now faces […]
Shopee was founded in 2015 in seven markets across Southeast Asia and has since expanded operations into 13 markets total. NurPhoto / Contributor / Getty images A 1,000-word internal staff memo outlines Shopee's 12-18-month plan to achieve self-sufficiency. The company's executive team will temporarily forgo cash compensation, per the memo. Once the darling of the […]
Enlarge (credit: Getty Images | SOPA Images) AT&T is reportedly planning a significant round of layoffs, despite receiving a large tax break and various regulatory favors such as the repeal of net neutrality rules. Motherboard reported the pending layoffs yesterday, saying it obtained the information from AT&T internal documents and an anonymous AT&T source. “A […]
Following a previous article about Faraday Future, the manufacturer reached out to yours truly to clarify a few things. First of all, the company deemed the headline and body a bit “jagged.” Understandable, as no manufacturer wants to be called “America’s Worst Automaker” by some bespectacled creep sitting behind a keyboard. Faraday’s spokesperson also noted […]
LM Otero/AP Sears is closing at least 11 stores ahead of the holidays, including six Sears stores and five Kmart stores. Layoffs at one Kmart store in Poughskeepie, New York, which employs 71 people, will begin December 23, according to a company filing. Sears has been closing hundreds of stores and selling off assets following years of crippling sales declines. […]
Enlarge / If today’s news about Telltale Games’ closure is true, that “final” season description may prove more accurate than Telltale originally intended. (credit: Telltale Games) Update, 5:49 p.m. ET: Telltale Games has issued a statement to Ars Technica confirming that the game maker has begun taking steps to shut down completely. The full statement, […]
HTC can’t catch a break. The company has announced that in June its sales fell “nearly 68 percent,” according to Reuters. Earlier this week, the company revealed it would cull some 1,500 employees from its Taiwan manufacturing division in its chase for profitability. The last several years haven’t been kind to the company, rife with […]
Tesla’s recently announced layoffs may hurt its solar panel business particularly hard. Reuters sources and leaked documents have revealed that Tesla is closing roughly a dozen solar installation centers in nine states as part of the job cuts. There will still be about 60 facilities left afterward, but this would also end a Home Depot […]
Snap Inc., parent company of the popular photo messaging app Snapchat, laid off around 7% of its staff in March. The company expects to save $ 25 million in 2018 on payroll and taxes, it said in a filing Friday. Around $ 10 million of that savings will go toward severances. Despite the savings, the […]
Published time: 10 Nov, 2017 04:47 The Carrier air conditioning company in Indianapolis is preparing to layoff 200 workers at their Indiana plant President Donald Trump vowed to protect while campaigning. Carrier released a statement Thursday, referencing their pledge to the president last year. “More than 1,100 jobs remain at the Indianapolis facility in keeping […]
