Ride-hailing start-up Swvl to cut 32% of staff, turn profitable in 2023 – ITP.net

Ride-hailing start-up Swvl to cut 32% of staff, turn profitable in 2023 – ITP.net

Ride-hailing provider Swvl is to reduce its headcount by 32 percent as it looks to turn cash flow positive next year.

The planned staff reductions will focus on roles that have been automated following investment in engineering, product and support functions.

“Swvl plans to provide monetary, non-monetary and job placement support to help with the transition of certain of its employees to new roles,” a statement from the company said.