Swvl to layoff workforce in certain markets amidst global recession

Swvl CEO Mostafa Kandil announced today that Swvl will be cutting down workforce in certain markets in order to become cashflow profitable in 2023. The news comes a week after Airlift announced a similar strategy to layoff workers and close operations in various cities of Pakistan in order to reduce operating costs.

With soaring prices and the recession at full scale, there is no doubt that these announcements are just the beginning of what’s to come in the future as startups restructure their ambitious plans to a more sustainable roadmap to increase cashflows and become profitable.

Terminated employees are being provided the following as a severance package:

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