South Asia’s leading e-commerce marketplace Daraz has announced the reduction of its workforce by 11 percent amid extremely difficult market conditions.
Chief Executive Officer Bjarke Mikkelsen informed Daraz employees about the layoffs earlier today. “This decision has been made by myself and the leadership team to prepare the company for the current market reality and to ensure that Daraz will thrive in the long term to achieve our vision,” he said in a message to Daraz employees shared by the company.
Mikkelsen added, “we also have to continue to invest in our future, and in order to do that, we need to stop any investments that are not aligned with our strategy. We need to double down on product innovation across our platforms as well as our own internal productivity. We cannot make these investments if we don’t make some difficult decisions now”.