Lazada is now seen to continue to optimize their operations and reduce spending rates. In parallel, they have started 2024 by reducing their workforce in a number of markets, including in Malaysia.
According to TheEdge report, one fifth of Lazada's workforce in Malaysia has been laid off, which is around 20% of the company's workforce. According to the same report, the CEO of Lazada Malaysia is also said to have been removed.
Apart from Malaysia, a number of other markets are also affected, where Lazada has also ended LazMall in Vietnam. This removal can be said to be a bit of a surprise to many, given that Lazada has just received a new investment injection from Alibaba last December 2023, amounting to RM3 billion.
The ecommerce arena can be said to be quite challenging in keeping users loyal to them. On this day itself, in addition to Lazada, Shopee also received fierce competition from TikTok, which is seen as the choice of many people lately.