Southeast Asia’s start-ups have fired hundreds of workers, and this may be just the beginning

Hundreds of workers from start-ups in Southeast Asia have been fired in the last few months, proving that the fast-growing industry is not immune to the global economic slowdown.

At least six tech companies have let go of their staff, including Sea Limited, the owner of Singapore-based e-commerce site Shopee.

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Job openings in Singapore’s tech sector have fallen slightly from last year. According to tech jobs portal Nodeflair, vacancies in the city state fell from about 9,200 between July and August 2021, to 8,850 in April and May 2022.

“Start-ups are being more cautious in scaling their team fast due to the unforeseeable future,” Nodeflair’s co-founder Ethan Ang told CNBC.