536 employees, 31% of the entire Careem workforce, are being let go.<\/p>\n
A letter to employees from Mudassir Sheikha, chief executive and co-founder of Careem stated\u00a0that as a result of the COVID<\/a>-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.<\/p>\n 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.<\/p>\n The company will continue to focus on tech, with the aim to improve customer experience, when activity resumes, as reported by Smashi TV<\/a>, (the first live streaming business channel for the Arab world).<\/p>\n 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.<\/p>\n 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”<\/p>\n Quoting Mudassir: "First, forgive us for prioritizing Careem\u2019s 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."<\/p>\n — Yasmin (@Yasmiin_Nour) May 4, 2020<\/a><\/p><\/blockquote>\nFor the departing employees, Careem offers severance pay and some parting words<\/h2>\n
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