Alibaba’s Southeast Asian e-commerce unit Lazada has cut some of its staff in Singapore and is reported to continue the layoffs in other markets.
The layoffs in Singapore affected both junior and senior employees from multiple departments, but the exact number was not disclosed, according to The Edge Singapore.
A Lazada spokesperson told The Straits Times that the company is making “proactive adjustments” to transform its workforce and to meet future needs.
“This transformation necessitates that we reassess our workforce requirements and operational structure to ensure Lazada is better positioned to future-proof our business and people,” the spokesperson added.
It is understood that a round of layoffs was previously conducted in October. Lazada Singapore’s former CEO Loh Wee-Lee left the company in August.
Meanwhile, Tech in Asia reported that the firm will likely let go up to 30 per cent of its staff across different markets, with Malaysia being the next to be affected after Singapore.
Founded in 2012, Lazada has a presence in Indonesia, Malaysia, Singapore, the Philippines, Thailand, and Vietnam.
Alibaba acquired the controlling stake in the e-commerce platform in 2016 and has poured about $7.4 million into the business since. The Chinese tech giant made three injections totalling more than $1.8 billion in 2023 amid intensifying competition from major rivals TikTok and Shopee in the Southeast Asian market.
The retrenchments come amid speculation that Alibaba International Digital Commerce, which includes Lazada, Daraz, Trendyol and AliExpress, is eyeing IPO in the US this year.
Source: insideretail.asia
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