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Alibaba Group-owned Daraz Group will lay off part of its workforce, its CEO, James Dong, said in a statement Wednesday.
The South Asian e-commerce giant, founded in 2012, did not disclose how many of its employees—or what percentage of its workforce—it would be parting ways with as it pursues a “more streamlined and agile structure.”
In his memo, Dong said the decision comes as the company, which Alibaba purchased in 2018, looks to ensure it will continue to have longevity.
“This decision was taken as a last…