THE shopee will restructure its presence in Latin America, reducing its operations in Chile, Colombia and Mexico and leaving Argentina for good. The information has not yet been officially announced, but store representatives have confirmed to the Reuters after the news outlet got access to an email sent this week to Shopee employees.
An internal email explaining the changes to employees was shown to Reuters reporters, who cite the following passage: “In light of the current advanced macroeconomic uncertainty, the company needs to focus resources on core operations.” The person who signs the correspondence is Chris Feng, CEO of Shopee.
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Then, in a statement to the news agency, Shopee said it would focus on a “cross-border” model for Mexico, Colombia and Chile, while exiting Argentina entirely.
It’s in Brazil?
Meanwhile in Brazil, where Shopee has managed to establish itself as one of the leading online stores, there are no plans for changes. Apparently, our market remains unchanged, which leads us to conclude that Brazil is among one of the “core operations” mentioned in Feng’s email.
The changes in the aforementioned markets will result in cuts in most of the staff and employees that Shopee hires in the regions.