Alibaba’s South Asian e-commerce unit Daraz to conduct new round of lay-offs
- Daraz acting chief executive James Dong said the latest job cuts come amid ‘unprecedented challenges in the market’
- The number of Daraz employees in Pakistan, Bangladesh, Sri Lanka and Nepal to be affected by the lay-offs was not disclosed
“Despite our efforts to explore different solutions, our cost structure continues to fall short of our financial targets,” he said. “Facing unprecedented challenges in the market, we must take swift action to ensure our company’s long-term sustainability and continued growth.”
The company did not immediately respond to a request for comment on Wednesday.
In spite of the new lay-offs, Dong said in his memo that Daraz remains committed to maintaining its regional presence, with a focus on “improving the consumer experience by diversifying our offerings of value-for-money products and expanding our product categories”, as well as “enhancing the operational efficiency of sellers”.
Tech lay-offs spread to South Asia as Alibaba unit Daraz cuts 360 jobs
Launched by German company Rocket Internet in 2012 as a small fashion retailer in Pakistan, the larger Daraz Group was formed in 2015 with expanded operations in Bangladesh. It acquired rival online shopping platform Kaymu in 2016 to enter Sri Lanka and Nepal.