E-commerce site Shopee is reportedly reducing its Philippine workforce according to numerous reports we’ve received from their partners as well as some industry sources that work with the company.
The reduction in personnel will affect Shopee itself as well as their logistics arm Shopee Xpress Delivery and Tracking (SPX).
Things haven’t been looking great for Shopee lately, as the company has reduced its workforce not only in the Philippines but in other countries as well, including India, France, Spain and Singapore, as well as other key Southeast Asian markets.
“These changes are part of our ongoing efforts to optimize operating efficiency with the goal of achieving self-sufficiency across our business. We are extending support to our affected colleagues during this transition,” Shopee said in a statement when reached for comment.
Shopee has taken a beating in the market, as Sea Limited, the NYSE-listed company that owns Shopee, has lost around $170 billion of market value since an October 2021 high.
Despite Sea Limited’s rising revenue (the company recorded a total GAAP revenue of US$2.9 billion in the second quarter of 2022), they also recorded a loss of $931.2 million in the same period, widening significantly from a net loss of $433.7 million in the second quarter of 2021 and on the tail of two straight quarters of losses.
Amidst the layoffs, Shopee’s Philippine presence has stirred controversy by teasing its next endorser, controversial social media personality Toni Gonzaga.
https://www.facebook.com/watch/?ref=external&v=558606079372588
The public’s reception to Shopee’s new endorser has been mixed, with many users promising to uninstall the app rather than patronize the e-commerce store with the new endorser.
People uninstalling the Shopee app in light of:
a) reported layoff;
b) acquiring an endorser w/ questionable humanity; and
c) wracking up losses with Buy Now, Pay Later which operates less as an installment plan and more of a loan.I guess it's safe to say: WALA SA LAZADA 'YAN!
— Alex (Earth-616 v3 1st Edition) (@JoseHaciendero) September 28, 2022
I srsly still like Shopee better than Lazada kahit na hindi na stackable vouchers nila but Shopee getting T/oni G as an endorser is the last straw for me ?
— ?SEEING TUBATU ON 102822 ? (@bangtanboiph) September 28, 2022
i can’t believe Shopee chose Toni over all those workers they laid off https://t.co/WV2uCqiTcR pic.twitter.com/dqr6mZhkof
— a certain Rea (@rearidinghood) September 28, 2022
Ok this is your sign TO UNINSTALL SHOPEE https://t.co/Lt9UwlZPIE
— mr. tampalpuke (@dailystantwt) September 28, 2022
Because of the news, the e-commerce app is now trending on Twitter, right behind its main rival, Lazada. Was tapping Toni Gonzaga the right move right as Shopee was reducing its Philippine workforce?
