Alibaba’s South Asian e-commerce unit Daraz to conduct new round of lay-offs

Daraz Group – the leading e-commerce company in South Asia, excluding India, owned by Alibaba Group Holding – is set to conduct a new round of lay-offs amid “unprecedented challenges in the market”, a year after slashing 11 per cent of its workforce.

“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018.

“Despite our efforts to explore…