Jakarta. Having secured $1.8 billion (Rp 27.92 trillion) in funding all through 2023, Lazada, one in all Southeast Asia’s largest e-commerce operators, has lately laid off an undisclosed variety of its workforce, affecting workers in six international locations.
The information was confirmed by an affected worker in Indonesia who most well-liked to stay nameless. In response to the supply, the layoffs prolonged to nearly all C-level executives in Singapore, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.
“Human assets, advertising, and business operations will now fall underneath the supervision of the corporate’s regional executives,” the supply informed the Jakarta Globe on Thursday.
Nevertheless, particular particulars concerning the overall variety of affected workers stay unsure. “Some departments skilled a 50 p.c discount, whereas others witnessed the termination of all their workers,” the supply added.
A Lazada spokesperson acknowledged the layoffs in Singapore, stating, “We’re making proactive changes to rework our workforce, positioning ourselves for a extra agile, streamlined manner of working to fulfill future enterprise wants,” as reported by Straits Instances on Wednesday.
The Singapore-based agency operates underneath Alibaba Worldwide Digital Commerce (AIDC), which incorporates different e-commerce platforms reminiscent of Daraz and Trendyol, together with the net retailer AliExpress.
These latest job cuts coincide with hypothesis about AIDC’s potential preliminary public providing in america in 2024. “AIDC goes public, which implies Lazada wants to show a revenue and to realize that, they’re slicing prices,” the supply stated.
Because it acquired Lazada in 2016, Alibaba has injected funds repeatedly, together with a $1 billion funding in 2017 and a $2 billion funding in 2018. Alibaba’s complete funding in Lazada all through 2022 amounted to over $1.6 billion.
In 2023, Lazada acquired three further funding rounds. In April 2023, Alibaba invested $352.9 million; in July 2023, it injected $845.44 million.
By December 2023, Alibaba had invested a further $634 million, bringing its complete funding within the firm to over $1.8 billion for the yr.
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