Shein makes rare job cuts in Singapore as London IPO remains in limbo

More than 20 employees are affected by the lay-offs that are part of a restructuring of its global IT research and development centre, the company said in a statement to the South China Morning Post. The workers were notified on Wednesday.

Shein, started by the low-profile Chinese entrepreneur Xu Yangtian, known as Sky Xu, pioneered the direct-from-China approach to selling cheap goods to international consumers by working closely with manufacturers. Its low-cost apparel proved popular in Western markets, including the US.

At the same time, the company has struggled to redefine itself as a global business since moving its headquarters to Singapore from China.