Cairo-born and Dubai-based mass transit and shared mobility services provider SWVL has carried out its second round of layoffs affecting 50% of its remaining headcount, according to a statement shared by the company.
The news is coming six months after SWVL laid off 32% of its workforce in a “portfolio optimization program” effort geared toward achieving positive cash flow next year. More than 400 employees were affected at the time, leaving more than 900 behind at the mobility company, based on data from its LinkedIn profile. But with this second round of layoffs, the number of employees at SWVL would have been reduced to a little over 450.
Reports about a second round of layoffs at SWVL had been circulating for over two weeks as axed employees took to LinkedIn to share that they were open to new job opportunities. Local media said the layoffs affected teams across multiple departments, including tech and HR in Dubai and Pakistan. Another report has it that SWVL completely shuttered its Pakistan operations entirely two weeks ago.