Company Directory - Sea Limited
Company Details - Sea Limited
Sea Limited
WebsiteSingapore, Singapore
Sea Limited, trading as Sea Group, is a leading internet company in Southeast Asia. It offers e-commerce services—most notably through its Shopee platform—and digital entertainment via its Garena division, catering to a wide range of consumer and merchant needs.
CCI Score
CCI Score: Sea Limited
-36.65
0.16%
Latest Event
Sea Limited Mass Layoffs and Labor Rights Concerns
Sea Limited's decision to lay off over 7,000 employees across Southeast Asia has raised serious concerns regarding its commitment to fair labor practices. Critics argue that such large-scale cost-cutting measures prioritize short-term profitability over worker welfare, contributing to a broader trend of undermining labor rights in the e-commerce sector.
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TOADIE
Sea Limited is currently rated as a Toadie.
Latest Events
- FEB192024
Sea Limited's decision to lay off over 7,000 employees across Southeast Asia has raised serious concerns regarding its commitment to fair labor practices. Critics argue that such large-scale cost-cutting measures prioritize short-term profitability over worker welfare, contributing to a broader trend of undermining labor rights in the e-commerce sector.
-60
Labor Relations and Human Rights Practices
March 20
The mass layoffs implemented by Sea Limited indicate a disregard for labor rights, as over 7,000 employees were cut across multiple regions. This move reflects a broader trend in cost-cutting measures where companies prioritize short-term financial gains over the stability and well-being of their workforce. In the context of rising concerns about the role of corporate practices in feeding economic inequality and fostering conditions ripe for authoritarian policies, such actions are seen as contributing negatively to the social contract with workers.
- JUL182023
Sea-backed MariBank is reportedly part of a lobbying effort by digital banks in Singapore to remove the regulatory deposit cap, signaling potential regulatory capture and risk to consumer protections. Sea Limited declined to comment on its involvement.
-40
Public and Political Behavior
March 20
The article highlights that MariBank, which is backed by Sea Limited, is engaging in lobbying to remove the deposit cap enforced by regulators. This political lobbying effort demonstrates the company's indirect involvement in influencing regulatory policies that could undermine consumer protection and favor corporate interests, a behavior that aligns with concerns over authoritarian corporate influence.
-30
Economic and Structural Influence
March 20
The lobbying effort to remove the deposit cap reflects an attempt at regulatory capture. By influencing regulatory frameworks for financial operations, Sea Limited’s backing of MariBank indicates a willingness to undermine regulations that protect consumers in favor of expanding market power and profit, which is concerning from a structural economic influence perspective.
- JUL172023
Sea Limited, along with Grab, has been actively lobbying Singapore's Monetary Authority to lift the deposit cap on new digital banks. This effort aims to secure more cash flow for expansion and investment in technology and cybersecurity, but it raises concerns regarding corporate political influence and potential regulatory capture that could undermine consumer protections and democratic oversight.
-40
Public and Political Behavior
March 20
Sea Limited's lobbying efforts to have the MAS lift deposit caps demonstrate a significant exercise of corporate political influence. Such actions can erode consumer protections and weaken democratic regulatory frameworks by prioritizing corporate profitability over public interest, thus aligning with concerns about supporting authoritarian deregulation practices.
Grab and Sea urge MAS to lift deposit cap to win the digital banking race - The Online Citizen
-30
Economic and Structural Influence
March 20
The lobbying initiative by Sea Limited to ease deposit restrictions can be interpreted as an attempt at regulatory capture, where corporate influence interferes with proper regulatory oversight. By seeking a favorable regulatory environment that supports its business model, the company risks compromising fair market practices and the broader public interest.
Grab and Sea urge MAS to lift deposit cap to win the digital banking race - The Online Citizen
- JUL142023
An investigation was called by the Economic Democracy Union into allegations that Shopee, a subsidiary of Sea Limited, facilitated bogus transactions and money laundering that may have been used to channel funds from China into Taiwan to support pro-China political candidates and parties. This raises concerns over potential complicity in undermining democratic processes.
-60
Public and Political Behavior
March 20
The investigation details allegations that Shopee enabled illegal financial transactions possibly used for political donations favoring pro-China political actors. This involvement in channeling funds to influence political outcomes demonstrates a troubling aspect of Sea Limited's role in promoting political interference, marking a significant deviation from standards supporting democratic transparency.
-50
Economic and Structural Influence
March 20
The allegations of money laundering and illicit remittance practices suggest that Shopee may be indirectly involved in economic collaboration that undermines regulatory frameworks and contributes to the funding of political campaigns. This activity can be seen as part of a broader pattern of economic influence that assists authoritarian elements in manipulating political processes.
- SEP192022
Sea Limited, the parent company of Shopee, implemented significant layoffs affecting multiple departments as part of its cost-cutting measures. This move raises concerns over its labor relations and the treatment of workers, reflecting broader issues of worker exploitation and ethical responsibility in the midst of financial restructuring.
-40
Labor Relations and Human Rights Practices
March 20
The decision to lay off a significant portion of the workforce, including departments such as HR, regional operations, marketing, and engineering, indicates a disregard for stable labor relations and worker security. This action, while framed as a necessary measure for achieving operational self-sufficiency, reflects negatively on Sea Limited's commitment to upholding labor rights and ensuring ethical treatment of employees, a core concern for anti-fascist and accountable corporate practices.
- SEP192022
Sea Limited, the parent company of Shopee, initiated job cuts in Singapore as part of wider cost-cutting measures amid economic turbulence. Although the company is working with unions to support affected employees, the layoffs raise concerns about its commitment to robust labor relations and fair employment practices.
-40
Labor Relations and Human Rights Practices
March 20
The layoffs at Shopee, a subsidiary of Sea Limited, highlight troubling labor practices during a period of economic stress. While the company has coordinated with the union and offered compensation packages, the decision to retrench employees undermines workers' rights and contributes to job insecurity, a key concern for groups opposing exploitative practices and authoritarian tendencies in corporate management.
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