KARACHI: Alibaba-owned e-commerce platform Daraz Group has announced job cuts across the group as it “adopts a more streamlined and agile structure,” acting chief executive James Dong said on Tuesday. This was said in an internal memo to employees seen by Reuters.
The memo did not say how many people would be affected by the layoffs. Daraz declined to comment on the percentage or absolute number of employees affected across its operations in Pakistan, Bangladesh, Nepal, Sri Lanka and Myanmar.
A memo to staff said: “It is with great sadness that we say goodbye to many valued members of the Dallas family.”
Last year, Daraz told Reuters that before the e-commerce market cut its workforce by 11%, citing difficult market conditions, the Ukraine crisis, supply chain disruptions, high inflation, higher taxes and fewer government subsidies, It told Reuters it employed 3,000 people in the region. There are other reasons.
“Despite our efforts to explore various solutions, our cost structure remains below our financial targets.As we face unprecedented challenges in the market, our long-term sustainability and continued We must act quickly to ensure sustainable growth,” Dong said. Say.
The group plans to focus on proactively improving the consumer experience by diversifying its value-for-money product offering, expanding its product categories and improving operational efficiency for sellers on its platform. He added that there is.
The e-commerce group appointed James Dong as acting CEO in January, replacing outgoing CEO Bjarke Mikkelsen.
Outgoing CEO Mikkelsen said last year that Pakistan and Bangladesh were the group's biggest markets.
Daraz was founded in Pakistan in 2012 as an online fashion retailer and was later acquired by Chinese internet giant Alibaba in 2018.
The business covers four main areas: e-commerce, logistics, payment infrastructure and financial services. The company told Reuters it has more than 30 million shoppers, 200,000 active sellers and more than 100,000 brands. – Reuters
