Daraaz, a leading e-commerce platform in the region, is reportedly planning to downsize its staff in response to the current economic climate. Similarly, Engro, a multinational conglomerate with a diverse range of businesses, is also expected to announce layoffs. The reason is yet unclear for the layoffs but understanding the steep economy and uncertain USD situation has definitely taken a performance toll and forecasting of major firms causing such unfortunate news.
The layoffs are expected to affect both permanent and contractual employees, with reports suggesting that several departments will be impacted.
The news has caused concern among employees who have been with the companies for many years and are now facing uncertainty about their future. They are concerned about the impact on their livelihoods and the job market, which is already competitive.
The companies have not yet made an official announcement about the layoffs, but it is expected to come later today. The decision to lay off employees is never easy, and the companies are likely to take steps to support those affected, such as offering outplacement services and assistance with finding new employment.
The layoff news is a reminder of the ongoing impact of the pandemic on the global economy and the significant challenges facing many businesses. It is also a wake-up call for employees to start considering career backup plans and ways to stay relevant in the current job market.
In conclusion, the layoffs at Daraaz and Engro are expected to have a significant impact on the affected employees and their families. Companies and governments must work together to support employees during these challenging times and ensure that their rights and interests are protected.