Daraz Group, an e-commerce platform owned by Alibaba, announced layoffs throughout the organisation in order to "implement a more streamlined and agile structure," according to an internal memo to employees from acting CEO James Dong. 

According to Reuters, the memo did not specify the number of individuals affected by the layoffs. Additionally, Daraz declined to provide details on the percentage or total number of employees affected across its operations in Pakistan, Bangladesh, Nepal, Sri Lanka, and Myanmar. 

"Reluctantly, we will bid farewell to many valued members of the Daraz family," the memo to staff stated. Last year, Daraz informed Reuters that it employed 3,000 individuals across its various locations. 

This was before the e-commerce marketplace reduced its workforce by 11% due to challenging market conditions, the Ukraine crisis, supply chain disruptions, significant inflation, increased taxes, and reduced government subsidies, among other factors. 

"Despite our efforts to explore different solutions, our cost structure continues to fall short of our financial targets. Facing unprecedented challenges in the market, we must take swift action to ensure our company's long-term sustainability and continued growth," Dong was quoted as saying. 

He added that the group plans to focus on proactively improving the consumer experience by diversifying offerings of value-for-money products, expanding product categories, and enhancing the operational efficiency of sellers on its platform. 

In January, the e-commerce group appointed James Dong as acting CEO, replacing outgoing CEO Bjarke Mikkelsen. Pakistan and Bangladesh are the group's biggest markets, outgoing CEO Mikkelsen said last year.