Sea to fire 3% of Shopee Indonesia staff as layoffs start

Sea’s Shopee division, in particular, has pulled back from major markets in Europe and Latin America. — Image by snowing on Freepik

Sea Ltd. is preparing to fire 3% of Shopee employees in Indonesia, part of a broader wave of regional job cuts intended to curb ballooning losses and win back investors.

The Singapore-based company will begin notifying affected staff Monday at its cash-burning e-commerce arm, according to an internal memo seen by Bloomberg News. The 3% cut in Indonesia aligns with layoffs of a low-single-digit percentage across the division, a person familiar with the matter said, asking to remain anonymous discussing internal actions.