SOUTH-EAST Asia’s e-commerce giants face a bruising battle in 2024, with growth slowing just as new players TikTok and Temu are shaking up the status quo.

The notion that profitability would come with scale has come under challenge, as Chinese platforms brought the fight to market leaders Shopee and Lazada and ate up market share.

Already, there are casualties in the fight. Lazada is set to axe 30 per cent of its staff across South-east Asia, according to a Thursday (Jan 4) report by Tech In Asia. About 100 have been laid off in Singapore so far, according to a CNA report. The latest exercise was preceded by a round of layoffs in October 2023.