Coronavirus impact: Careem announces over 500 job cuts across its business

Coronavirus impact: Careem announces over 500 job cuts across its business

Ride-hailing company, Careem, has announced that it is cutting 536 jobs across its business as a result of the impact of the Covid-19 pandemic.. In a blog post on the company website on Monday, co-founder and CEO Mudassir Sheikha, revealed that the cuts make up 31 per cent of its workforce.. Our business is down by more than 80 per cent and the recovery timeline is alarmingly unknown.. Our parent company Uber, believes in our Super App vision and is committed to the region, but like others in the industry, is also impacted by the crisis.". In a statement to Khaleej Times, Sheikha said that the decision of letting people go was "a last resort.". The impact of Covid-19 on our business and industry has been severe and has forced us to change the shape and size of our organisation so that Careem can be for the long-term - which we will.". Sheikha also announced that a decision had been made by the company to suspend Careem BUS.. "The economics of the mass transportation business have improved but remain challenging, and at this time, we need to accelerate our investments in deliveries and the Super App. We believe Careem BUS