The Business Times
business-time-50
HOCK LOCK SIEW
·
SUBSCRIBERS

Lazada layoffs suggest spinoff, IPO of Alibaba unit might not be on the horizon

google-preferred-sourceAdd BT as a preferred source
Benjamin Cher

Benjamin Cher

Published Thu, Jan 11, 2024 · 05:00 AM
    • Lazada is still a distant second to rival Sea subsidiary Shopee in most key South-east Asian markets.
    • Lazada is still a distant second to rival Sea subsidiary Shopee in most key South-east Asian markets. PHOTO: BT FILE

    NEWS on Jan 3 about layoffs ripping through Lazada may have come as a shock to many observers. But to some industry watchers, the cost-cutting measures might be a case of too little, too late.

    Alibaba-backed Lazada has fallen behind in the e-commerce race in South-east Asia. Former employees have lamented about its inability to reclaim its crown from Shopee, despite the Sea subsidiary undergoing a rough patch.

    Part of this has been due to disruptions in the regional e-commerce scene, not least by the emergence of TikTok Shop.

    Hock Lock SiewLazadaAlibabaTech layoffsLayoffs

    TRENDING NOW

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The site in Peck Hay Road can yield about 315 private homes.

    CDL, Hong Realty outbid 3 other bidders with S$542.4 million offer at S$1,865 psf ppr for Peck Hay plot

    David Rubenstein, co-founder and co-chairman of The Carlyle Group, warns against “just trying to do deals for the purpose of doing deals, as opposed to getting high rates of return”.

    Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein

    Evergrande’s liquidators have claimed “negligence” and “misrepresentation” in the auditing work done by PwC’s mainland and Hong Kong affiliates.

    Evergrande’s liquidation prompts some PwC partners to shield assets, contemplate divorce

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More