Tag: Shopee

20 SEP

Shopee rolls out spending caps for all employees, including economy-only flights and $30 meals, as the company braces for layoffs and financial trouble

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 […]

20 SEP

Read the memo Singapore billionaire Forrest Li sent to employees of Shopee, the Amazon of Southeast Asia, as the company’s losses widen and it prepares for layoffs

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 […]