One of the biggest e-commerce sites in the Philippines is rumored to be cutting back on its staff.
Shopee and its logistics arm, Shopee Xpress Delivery and Tracking, will be impacted by the reduction in workers due to the restructuring (SPX).
FINALLY, makikilala niyo na siya 😉
Drop your guesses and CATCH HER tomorrow at 3PM for the big reveal! #ShopeePH pic.twitter.com/Xy6F3IC5cs
— Shopee Philippines (@ShopeePH) September 28, 2022
Shopee has not had the best of luck as of late, as the company has been laying off employees not only in the Philippines but also in other countries, such as India, France, Spain, and Singapore, in addition to other significant markets in Southeast Asia. Things have not been looking good for the company.
Since reaching a market high in October 2021, Shopee’s parent company, Sea Limited, listed on the New York Stock Exchange (NYSE), has decreased its market value by around $170 billion. As a result, Shopee has taken a beating in the market.
Despite Sea Limited’s growing revenue, it still recorded a loss of $931.2 million in the second quarter of 2022.
Newest Shopee brand ambassador Toni Gonzaga feels “very grateful, blessed” to be part of Shopee family; thanks netizens for the “mentions and engagements.” | @charmiepagulong pic.twitter.com/AvAADDZ6dc
— The Philippine Star (@PhilippineStar) September 29, 2022
In the middle of the layoffs, Shopee’s presence in the Philippines has sparked controversy by announcing that Toni Gonzaga, a famous social media figure, will be the company’s following endorsement.
The public’s reaction to Shopee’s decision to partner with a new endorser has been lukewarm at best, with many users pledging to delete the app rather than shop at the e-commerce business that has partnered with the new endorser.
