Noon lays off 10% of its Dubai workforce: Report
The layoffs included roles in marketing and advertising, as per reports.
Saudi Arabia-based e-commerce platform laid off 10% of its employees at its Dubai office to reduce costs, as per reports.
The layoff included roles in marketing and advertising, Bloomberg reported.
Founded in 2016, Noon is considered by bankers as a long-term candidate for potential public listing.
In 2021, founder of Noon, Mohamed Alabbar mentioned that investors such as the PIF would inject $2 billion to help Noon improve its infrastructure. However, the firm may not require the funds, Alabbar told Bloomberg.
The layoffs in Noon follow those in Kitopi. In 2022, Softbank-backed Kitopi reduced 2% of its workforce. However, Alabbar mentioned that there are no plans currently to sell the shares in Noon.
Noon is among the big tech companies across the world which are laying off people. As per a website called layoffs.fyi, 553 global tech companies have laid off around 166,004 employees in just three months of the current year.
Noon has operations in the UAE, Saudi Arabia and Egypt with plans for further expansion in the Middle East.
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