From Sea to GoTo, tech layoffs mount in ASEAN: 4 things to know

Region's platforms hit brakes on aggressive hiring amid market chill

20221124 Singapore Business District

The region's largest tech platforms have reduced their total workforces by as much as 10% this year, with some signaling even further cuts. © AFP/Jiji

TSUBASA SURUGA, Nikkei staff writer

SINGAPORE -- As Southeast Asian tech companies brace for a tougher business environment, they are borrowing from the U.S. industry's latest playbook: mass layoffs.

The region's largest platforms, like Indonesia's GoTo and Singapore's Sea, have reduced their total workforces by as much as 10% this year, with some signaling even further reductions.

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