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Motley Fool
Why Sea Limited Stock Is Sliding Today
The share price of Sea Limited (NYSE: SE), a Singapore-based gaming and e-commerce company, was tumbling today after a new report was published saying that the company has laid off 10% of its workforce over the past six months. A report published by The Information today said that Sea has laid off more than 7,000 of its employees over the past six months. The news comes after Sea reported disappointing second-quarter results back in August, which has contributed to the company’s share price decline of 39% since then.
