Daraz Group, an Alibaba-owned e-commerce platform, has announced layoffs across the group in an effort to establish a more efficient and flexible structure, according to an internal memo reviewed by Reuters on Tuesday. However, the memo did not specify the exact number of individuals impacted by the layoffs. Daraz has refrained from disclosing either the percentage of affected employees across its operations in Pakistan, Bangladesh, Nepal, Sri Lanka, and Myanmar. Daraz's CEO James Dong said that the company's cost structure falls short of financial targets and that they must take swift action to ensure long-term sustainability and growth. Last year, Daraz cut its workforce by 11 per cent due to market challenges, supply chain disruptions, inflation, higher taxes, and reduced government subsidies, the statement added. The group plans to focus on improving the consumer experience by diversifying product offerings, expanding categories, and enhancing seller efficiency. The company covers e-commerce, logistics, payment infrastructure, and financial services, with over 30 million shoppers, 200,000 active sellers, and over 100,000 brands.
