Earlier in January 2024, Lazada, a unit of New York Stock Exchangelisted Alibaba, announced plans to reduce its headcount. The ecommerce arm Lazada operates in various countries across Southeast Asia, including Singapore, Indonesia, Malaysia, the Philippines, Thailand and Vietnam.
Layoffs affected all functions, reports said. A CNBC report had put the cuts in the region of hundreds.
Subsequently, Google also announced job cuts. These were in areas such as the hardware and central engineering teams, as well as Google Assistant. Some estimates put the number affected at 1,000, with more layoffs expected this year.
So is this a signal that these tech firms are in trouble? Analysts reckon it is more to do with strategy and re-organisation than a lack of growth prospects.
Insead's associate professor of entrepreneurship and family enterprise Jason Davis believes that "these job cuts may be a sign of adaptability and strength, not weakness". He says tech firms are highly successful and dynamic organisations that need to adjust the workforce occasionally to capture opportunities.
One factor is that these companies ramped up hiring dramatically during the Covid-19 pandemic, often in remote-focused roles, and they have been readjusting back towards a balance in the number of in-person workers since the pandemic ended.
Another factor is that companies are facing a massive technological revolution in the next five years around artificial intelligence (AI) and, to capture that opportunity, many of them will need to focus headcount on those with AI expertise.
Esta historia es de la edición January 21, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 21, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
VERDY'S APPROACH AN EYE-OPENER
Former Lions turned coaches Alam Shah and Isa inspired by stint with Japanese club
Lions' morale-boosting win comes at a price
The Lions got a much-needed morale booster ahead of the Asean Football Federation (AFF) Championship as they beat Tokyo Verdy 2-1 on Oct 11 in the second of three friendlies against J1 League opponents in their Japan training tour.
Conditions to blame for 'ugly' draw, says Messi
Argentina were held to a 1-1 draw by Venezuela on Lionel Messi's return, as Brazil got their 2026 World Cup qualifying campaign back on track with a last-gasp 2-1 victory over Chile on Oct 10.
Belgium punish Italy at set pieces in 2-2 draw
Italy coach Luciano Spalletti blamed bad luck, as Belgium bounced back from two goals down to draw 2-2 with his 10-man side in Rome on Oct 10 to boost their hopes of reaching the Nations League quarter-finals.
CARSLEY'S MIDFIELD OVERLOAD BACKFIRES
England temp boss dismayed by mistakes as Three Lions lose to Greece for first time
Player strike in England unlikely: Sports law expert
The chorus of frustrated players and managers speaking out against football's gruelling fixture schedule continues to grow, with Liverpool defender Ibrahima Konate the latest to say he would support players' right to strike.
SOCCEROOS HAVE NO FEAR
They head to Japan with confidence despite never having beaten the Samurai Blue there
Toyota back in F1 with Haas tie-up
The United States-owned Haas Formula One team and Toyota announced a multi-year technical partnership on Oct 11, in a move bringing Japan's biggest carmaker back to grand prix racing for the first time since 2009.
SABALENKA TO STICK TO HER BRAVE PLAN
World No. 2 will be aggressive in Wuhan semi against Gauff; Fritz takes on Djokovic
Nadal's beauty lay in his purity as a competitor
To appreciate the retiring Rafael Nadal we can flip through record books, hunt down Uncle Toni, sift the clay for archaeological clues, speak to Roger Federer's therapist, delve into the physics of spin, but really it's best if we start with a dictionary.