Southeast Asia's Biggest Internet Firm Has Laid Off 7000 Workers - The Information

Sea Ltd., Southeast Asia’s largest net institution by gross and marketplace value, has laid disconnected much than 7,000 employees, oregon astir 10% of its workforce, implicit the past six months, according to 2 radical with cognition of the matter.

Sea, a Nasdaq-listed institution whose shareholders see Tencent, BlackRock and T. Rowe Price, had been seen arsenic 1 of Southeast Asia’s tech occurrence stories, commended for its cognition of an e-commerce app, Shopee, and a videogame business, Garena. But it’s besides 1 of a fig of high-flying tech companies that successful caller years had burned done monolithic amounts of wealth arsenic it tried to turn quickly—a strategy that proved unsustainable arsenic involvement rates soared this twelvemonth and the system slowed.

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