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Pakistan-origin Daraz Group announces further layoffs, a year after 11 percent initial cuts

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KARACHI: Pakistani e-commerce giant, Daraz Group, which is owned by China’s multinational conglomerate Alibaba, has announced further layoffs “for a more streamlined and agile structure” a year after saying it was slashing 11 percent of its workforce due to difficult market conditions triggered by the Ukraine crisis. Daraz was founded in 2012 in Pakistan as an online fashion retailer before becoming a leading e-commerce platform in South Asia.

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Pakistan-origin Daraz Group announces further layoffs, a year