Careem Is Laying Off 31% Of Its Entire Work Force
536 employees, 31% of the entire Careem workforce, are being let go.
A letter to employees from Mudassir Sheikha, chief executive and co-founder of Careem stated that as a result of the COVID-19 pandemic, business is down 80% and while it has the backing of its parent company, the global ride-sharing behemoth Uber, neither are immune to the current crisis.
The four-page letter detailed that Careem had looked at all cost-reducing efforts, cutting all non-essential spending, but sadly the efforts were not enough.
The company will continue to focus on tech, with the aim to improve customer experience, when activity resumes, as reported by Smashi TV, (the first live streaming business channel for the Arab world).
For the departing employees, Careem offers severance pay and some parting words
Careem is offering a three-month severance packet for departing employees along with one month of equity vesting and, where relevant, extended visa and medical insurance for families until the end of the year.
The companies went on to ask for forgiveness, for prioritising Careem’s security over departing employees. The letter added, ‘you brought Careem to where it is today, and for that, I will be forever grateful”
Quoting Mudassir: "First, forgive us for prioritizing Careem’s security above you, and for any mistakes that we may have made in the process. Many of you will hopefully remain life-long friends and partners in the future."
— Yasmin (@Yasmiin_Nour) May 4, 2020
Netizens are sharing their thoughts
The Careem layoff memo is refreshingly straightforward for such a dreadful event https://t.co/OUhL6GSpXQ
— Thijs Niks (@thijsniks) May 4, 2020
And a bleak prospect: If restrictions continue, the worse may be yet to come
The Careem news just brings into focus the damage done to the economy. The restrictions can't continue for long if we are to avoid far worse
— Andy (@andygib) May 5, 2020
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