A few days ago, word spread about SWVL’s decision to lay off a third of its workforce,
approximately 400 full-time employees.
SWVL aims to become cash flow positive by next year, according to CFO Youssef Salem.
He explained that the decision was made in an attempt to achieve as much efficiency in terms of optimization and automation as possible.
In the press release,
the company clarified that the layoffs will occur in the engineering, product, and support sectors of the company,
All impacted employees have been notified of their termination,
and the corporation has stated that it will provide assistance to help them “transition” to new jobs.
What do you think of such a decision?
Will technology slowly replace manpower?
Is helping employees transition to new jobs enough?
Let us know what you think.
