TransportationEG

SWVL Layoffs

November 2022

SWVL announced a layoff affecting 0 employees (50% of its workforce) in November 2022. The company operates in the Transportation sector.

People Affected

Percentage

50%

Announced Date

Nov 23, 2022

About

SWVL, a Dubai-based mass transit and mobility services provider, has conducted a second round of layoffs, cutting 50% of its remaining workforce in November 2022. This follows an earlier reduction six months prior, where over 400 employees (32% of the workforce) were let go. After these cuts, the company's headcount dropped from over 900 to just over 450 employees. The layoffs, affecting teams in Dubai and Pakistan, are part of a broader effort to achieve positive cash flow and reevaluate operations in smaller markets, with reports indicating a complete shutdown in Pakistan. The company, which expanded rapidly through acquisitions across 20 markets, is now scaling back due to economic challenges and overexpansion.