E-commerce platform 'Daraz' has Fired its Employees by 11%

NewsToday: In light of the exceedingly challenging market conditions, Daraz, the largest e-commerce platform in South Asia, has announced an 11 percent employment reduction. Earlier today, Chief Executive Officer Bjarke Mikkelsen told Daraz staff members of the layoffs. In a message to Daraz employees posted by the company, he stated, "This decision has been made by myself and the leadership team to prepare the company for the current market realities and to ensure that Daraz will survive in the long-term to accomplish our vision."

In light of the exceedingly challenging market conditions, Daraz, the largest e-commerce platform in South Asia, has announced an 11 percent employment reduction. Earlier today, Chief Executive Officer Bjarke Mikkelsen told Daraz staff members of the layoffs. In a statement to Daraz employees posted by the company, he stated, "This decision was taken by myself and the steering committee to equip the company for the global market realities and to assure that Daraz will survive in the long-term to accomplish our vision."

"However, in the past year, the market situation has changed and been much more challenging due to the European war, significant supply-chain disruptions, skyrocketing inflation, rising taxes, and the withdrawal of crucial taxpayer subsidies in our marketplaces. Despite these challenges, we are continuing expanding our company, and over the past year, we have made significant strides in improving our unit economics. In essence, and this is what makes me so proud, we are enhancing our offerings faster, even if the market can slow us down.