Southeast Asia’s Sea, GoTo Cut Jobs in Quickening Tech Pullback
- Region’s tech leaders focusing on boosting profitability
- Companies already slashed thousands of positions last year
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Sea Ltd. and GoTo Group, two of Southeast Asia’s largest internet companies, are embarking on fresh layoffs as the region’s once high-flying tech leaders retrench to focus on profitability over growth.
Singapore’s Sea is cutting fewer than 500 jobs at e-commerce unit Shopee in Indonesia, a person with direct knowledge of the matter said, days after the company reported a surprise first-ever quarterly profit helped by last year’s extensive firings. Indonesia’s GoTo is reducing 600 jobs as it reorganizes its business.