Truck It In lays off employees as economic crisis hits Pakistani startups
Karachi: Pakistan’s logistics start up Truck It In has laid off a large number of employees due to what their representative said economic crisis and ‘recession’
A spokesperson for the company said that they have fired employees from their Karachi, Islamabad and Lahore offices as part of cost cutting.
She dismissed a report which said that Truck It In fired 80 percent of its staff.
“This has happened because the company has to carry out cost cutting to sustain and make itself profitable,” she said.
The spokesperson said that the company has changed its entire structure and strategy as part of cost cutting measures.
The move came just months after Truck It In said it raised $13 million in early-stage funding, the largest for a logistics startup in the Middle East, North Africa and its home country.