Sea (Group) shares fall on Wall Street after Shopee announces layoffs

At 21:24 hours Thai time on Monday (19 September) the share price Sea fell 1.07% to $58.38.

Bloomberg News Agency reported that Sea it will reduce the company’s staffShopinIndonesiaan amount of 3%, which will affect employees in operations and marketing departments

Previously, the company Shopee Indonesia insisted there were no plans to lay off any of the 20,000 workers, saying the company continued to perform well andIndonesia is still an important market for the company

in the meantime Straits Times newspaperhe reported that the company Shopee Singapore also announced the redundancies today. He is an employee in the Human Resources Department, the Marketing Department, the Regional Operations Department. including the engineering and product department

announcing redundancies inSingapore and IndonesiaToday, afterShophas announced its withdrawal fromEuropean and Latin American marketspreviously, including fromIndia Because the Indian government has announced a ban on doing business in the country. amid conflict with Chinese companies

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