ISLAMABAD: Renowned property tycoon Malik Riaz has reportedly laid off at least 40 employees from his digital media platform, Nukta, amid a financial crisis.
As announced by the digital media platform on its official social account, around 40 employees have been fired from the organisation due to financial crunch.
The sudden layoff of such a large number has sent a wave of concern amongst the employees.
Those sources within Nukta revealed it was due to growing financial stress on the organisation that led to layoffs.
It merits mentioning that Nukta had employed a large number of people on exuberant salaries.
According to sources, the sad news was delivered by President NUKTA Kamran Khan in the Wednesday meeting.
In a statement shared on LinkedIn, the company stated that, in light of recent restructuring at Nukta, we have taken the difficult decision to reduce our Pakistan workforce, impacting 37 colleagues.
“We do not take such decisions lightly, and this is a difficult step for us – one that takes into consideration our commitment to long-term sustainability and vision for building the most impactful digital media platforms in the region”, the document said.
Our hearts are with our impacted colleagues, whose creativity and contributions have been an integral part of our whole story, and for that, we are deeply grateful. According to the shared document.
“With this transition, we aim to move forward to a brighter future, where we continue to live our purpose of bringing clarity and compassion to our audiences from our Dubai and Pakistan offices. We look forward to the day when we can invite our impacted colleagues to join us back”, the document concluded.
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