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Daraz announces layoffs

Afroza Hossain

Daraz announces layoffs

Daraz, one of South Asia’s leading e-commerce companies, has announced layoffs.

The company informed this information in a press release on Tuesday (February 27).

On Daraj’s website, the Daraj leadership team says that despite the reluctance to make the organization more dynamic, many people are having to say ‘goodbye’. However, the notification did not say anything about how many people have to lose their jobs.

Reuters reported that one of the world’s top e-commerce companies, the acting CEO of Alibaba-owned Daraz, James Dong, officially informed the employees about the layoffs.

The news report also said—how many or what percentage of Daraz workers are being fired in Bangladesh, Pakistan, Nepal, Sri Lanka and Myanmar, which the company declined to say. Daraz told the news agency last year that they have 3,000 employees in these five countries.

Daraz’s parent Alibaba has looked to strengthen its financial position by cutting costs and streamlining operating costs as the market landscape changes after the Ukraine war. Besides, ongoing inflation has affected consumer spending and global investors have become hesitant to invest in technology businesses. So Alibaba is taking such steps to adapt to these challenges and ensure a more efficient operational structure.

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