SINGAPORE, March 12 (Bloomberg): Singapore's Sea Ltd. and Indonesia's GoTo Group, two of South-East 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.
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