Daraz Bangladesh is set to lay off over 500 employees this week, representing at least a 35% headcount reduction, according to company sources.
The e-commerce platform, while not officially disclosing the number at a town hall meeting, released a statement on its website. James Dong, the Group CEO, stated, “Reluctantly, we will bid farewell to many valued members of the Daraz family.” The decision was attributed to the need for a more streamlined and agile structure, with the company struggling to meet financial targets despite efforts to manage costs and improve operational efficiency over the past couple of years.
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