Daraz Group announces restructuring resulting in 11% layoffs
Daraz, the leading e-commerce platform in Pakistan, has announced a restructuring plan that will result in a 11% reduction in its workforce across the company.
The announcement was made by the CEO, Bjarke Mikkelsen, with Managing Director, Ehsan Saya, addressing employees to explain the decision.
According to Saya, the restructuring is necessary to ensure continued growth for Daraz. Despite the layoffs, the company will continue to invest in product innovation, such as its recent investment in the region’s first smart distribution centers in Karachi and Lahore.
Saya stated, “We will continue investing in Pakistan and are strong believers of this market…we felt it is imperative that we reorganize our structure to scale and grow in the coming years.”
The move comes as the global economy experiences turbulence and Daraz seeks to prioritize investments and resources.
The company remains confident in its future growth and believes the restructuring will help to achieve that goal.