Sea’s Layoffs Hit Fintech Business

Sea Ltd.’s round of layoffs has hit its fintech business, according to media reports.

Southeast Asia-based superapp Sea is making layoffs in its e-commerce business, Shopee, according to media reports.

The headcount «adjustments» will impact Southeast Asia, Latin America and Europe, «Tech in Asia» reported, citing an internal company announcement. An email sent to employees from Shopee CEO Chris Feng said the layoffs will affect both fintech ShopeePay and ShopeeFood, the «Tech in Asia» report said.

«DealStreetAsia» reported, citing two sources aware of the matter, that around half of Shopee Thailand’s payment and food delivery teams have been hit by the layoffs.

Sea didn’t immediately respond to messages — sent over WhatsApp and via email — from finews.asia seeking comment .

Superapp Status

The SeaMoney business offers mobile wallet services and payment processing…