Amazon’s Mideast Rival Noon Cuts 10% of Jobs to Pare Costs - Bloomberg
Noon, the Middle East’s answer to Amazon.com Inc., cut about 10% of its roughly 3,400-strong workforce to increase efficiency and reduce costs, according to its founder Mohamed Alabbar.
The layoffs at the Dubai-based e-commerce firm included roles in marketing and advertising, as well as in other departments, Alabbar said in an interview.
“We’ve been cutting costs and reducing staff for the past year and a half,” said Alabbar, who owns 50% of Noon, while Saudi Arabia’s sovereign wealth fund owns the other half. “We started before the big tech companies did but we’re done now.”
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