— Sea Ltd. has made the changes it needs to deliver profits over the long haul, billionaire founder Forrest Li said in a memo to staff, assuring workers who had survived months of steep job cuts that the worst is over.marks a turning point for the company, the chief executive officer said in a recent internal memo seen by Bloomberg News. The company made painful decisions to adapt quickly and has a stabler footing with fewer inefficiencies, Li said in his 700-word missive.
But he warned the company still needs to prove that it can sustain a profit. “The world will be watching to see whether this quarter’s result is just a momentary blip or the start of a long-term trend,” he said. “Our job is not yet done.” In recent months, the company cut thousands of jobs, froze salaries and slashed more than $700 million from quarterly sales and marketing expenses to convince investors of its profit-making ability. Itabout 500 jobs at e-commerce unit Shopee in Indonesia this month, just days after the company reported a surprise first-ever quarterly profit helped by last year’s extensive cost cuts.
Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles
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