In a sudden turn of events, SWVL is pausing all their daily and city-to-city rides in Nairobi. The company has issued a statement in this regard stating that some of its key services will be gradually stopped in Nairobi and is likely to affect the country.
SWVL pauses:
~ SWVL Travel for city to city rides on 30th May
~ SWVL Daily for intercity rides in Nairobi on Friday 3rd JuneTo continue operating SWVL Business for corporate clients.
Blames the global downturn for the decision, days after announcing the 32% staff layoffs. pic.twitter.com/S3M45ySb8Y
— Eric Jackson (@Jayriq) June 1, 2022
The ride-hailing company typically has 3 parts to their transport program. SWVL Daly, City-City and Business-Business. After almost three years in the country, they will be pausing the Daily and CIty-City rides.
The company notes that SWVL Busines will still operate to cater to corporations, organizations, and private entities.
SWVL Global Lay-Offs.
Swvl, the mass transit, and shared mobility provider had said earlier this week that it will be cutting off its workforce by a third. According to Chief Financial Officer (CFO) Youssef Salem, who while speaking to Bloomberg said the layoff will affect 400 people.
The move according to the company is part of the company’s efforts to turn cash flow positive by next year. Other measures including voluntary salary deductions from the top management team, reduction of current office spaces, freezing our current hiring program, freezing travel and accommodation expenses as well as tying expenditures to essential business requirements were taken into consideration.
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