After a $1bn quarter loss, Garena's parent company halts projects and lays off some staff
Firm to stop updating its gaming livestream service app and says focus will turn to long-term business operations
After a $1 billion loss in its lastest quarterly financials report, tech firm Sea is halting its game livestream service and closing projects in development, according to Reuters.
Sea is also the parent company of Singaporean game developer and publisher Garena – the studio behind Garena Free Fire.
Sources speaking with Reuters said that gaming livestream Booyah!, a business unit of Garena, and Sea's development team would be seeing staff layoffs.
The job cuts at Booyah! will result in a redundancy of 30 to 40 positions. Its app will be halted and no longer be updated as well.
A Sea representative told Reuters that the company "made some changes to improve efficiency in [its] operations that impact a number of roles."
They added that the firm will focus on "long-term strength" for its ecosystem.