Skip to main content

Alibaba’s South Asian e-commerce giant Daraz announces layoffs in memo

Alibaba-owned e-commerce platform Daraz Group has announced layoffs across the group to “adopt a more streamlined and agile structure”, acting Chief Executive Officer James Dong said on Tuesday in an internal memo to employees reviewed by Reuters.

The memo did not mention the number of people affected by the layoff. Daraz declined to comment on the percentage or absolute number of employees impacted across its operations in Pakistan, Bangladesh, Nepal, Sri Lanka and Myanmar.

“Reluctantly, we will bid farewell to many valued members of the Daraz family,” the memo to staff said.

Last year, Daraz told Reuters it employed 3,000 employees across its geographies, prior to the e-commerce marketplace cutting its workforce by 11 per cent due to difficult market conditions, the Ukraine crisis, supply chain disruptions, soaring inflation, higher taxes and fewer government subsidies, among other reasons.

“Despite our efforts to explore different solutions, our cost structure continues to fall short of our financial targets. Facing unprecedented challenges in the market, we must take swift action to ensure our company’s long-term sustainability and continued growth,” Dong was quoted as saying.

He added that the group plans to focus on proactively improving consumer experience by diversifying offerings of value-for-money products, expanding product categories and enhancing operational efficiency of sellers on its platform.

In January, the e-commerce group appointed James Dong as acting CEO, replacing outgoing CEO Bjarke Mikkelsen.

Pakistan and Bangladesh are the group’s biggest markets, outgoing CEO Mikkelsen said last year.

Founded in 2012 in Pakistan as an online fashion retailer, Daraz was later acquired by Chinese internet giant Alibaba in 2018.

The business covers four key areas e-commerce, logistics, payment infrastructure and financial services. It has more than 30 million shoppers, 200,000 active sellers and over 100,000 brands, the company told Reuters.



from The Dawn News - Home https://ift.tt/hyLgCwi

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Dodgers’ Shohei Ohtani skipping home run derby

Baseball’s biggest star is skipping the home run derby. Shohei Ohtani confirmed after Tuesday’s win over the Diamondbacks that he will not be participating as he continues to rehab an elbow injury that has prevented him from pitching this season. “There’s been some conversations going on,” Ohtani said, according to Juan Toribio of MLB.com . “I’m in the middle of my rehab progression, so it’s not going to look like I’ll be participating.” Manager Dave Roberts said Ohtani and the club reached the decision together. Ohtani signed a historic 10-year, $700-million contract with the Dodgers after winning his second AL MVP award last season with the Angels. Despite his elbow injury, he has served as the Dodgers’ primary DH this season and been one of the most productive hitters in baseball. Ohtani entered Tuesday hitting .316/.399/.635 with a 1.034 OPS. He hit his NL-leading 27th home run in the win. Ohtani had previously participated in the Derby in 2021. Last season’s champion, Vlad...
Post a Comment
Read more

Pakistan flag installed at UNSC as country becomes non-permanent member for 8th time

The Pakistani national flag was installed in front of the United Nations Security Council chamber, as the country began its eighth term as a non-permanent member (2025-26) of the 15-member body, according to a press release issued by the Permanent Mission of Pakistan to the United Nations on Thursday. Pakistan on Wednesday began a two-year term as a non-permanent member of the United Nations Security Council (UNSC). Elected in June to replace Japan, Pakistan now occupies one of the two Asia-Pacific seats on the UNSC. It will preside over the council in July, a key opportunity to set the agenda and foster dialogue. View this post on Instagram This marks Pakistan’s eighth term on the council, providing an opportunity to shape discussions on pivotal international issues, but also posing significant challenges. “As part of the joining ceremony, flags of the five new incoming non-permanent members — Pakistan, Denmark, Greece, Panam...
Post a Comment
Read more

Medical supplies dispatched to snowbound Neelum valley

MUZAFFARABAD: Acting on the directives of Azad Jammu and Kashmir (AJK) Prime Minister Chaudhry Anwarul Haq, a truck carrying essential medical equipment was dispatched on Friday to support a medical mission in the snow-affected areas of Neelum Valley. The supplies included an ultrasound machine, delivery tables, delivery kits, and gynecological emergency equipment, which were urgently required to cater to medical emergencies in the snowbound villages of Halmat and Janawai in the Gurez sub-valley of Neelum. On Thursday, a seven-member emergency medical response team—comprising four male and three female doctors—was airlifted to the upper reaches of Neelum Valley using military helicopters. This collaborative effort with the Pakistan Army was initiated following reports of insufficient healthcare facilities and rising medical emergencies in these isolated areas. Road to Taobutt cleared for the first time in January amid freezing temperatures On the night of January 18, a 21-year-o...
Post a Comment
Read more