Shopee rolls out spending caps for all workers, together with economy-only flights and $30 meals, as the corporate braces for layoffs and monetary bother
On September 15, Shopee CEO Forrest Li informed workers the corporate can be proscribing expense insurance policies.
Layoff conversations started September 19, affecting a low-single-digit share of Shopee workers.
Shopee dad or mum Sea Restricted raised $6 billion in 2021, however now faces bleak fundraising prospects.
Ecommerce large Shopee is bracing for monetary bother, and it is making ready for layoffs and worker spending caps.
Forrest Li, the corporate’s billionaire founder, chairman, and CEO, informed workers a tightened expense coverage can be instituted from October 1