Due to the current economic crisis, SWVL Bus has decided to discontinue its shuttle service to customers in major cities throughout Pakistan. SWVL announced in an official statement that it will suspend intracity services within Multan, Faisalabad, Islamabad, Lahore, and Karachi.
In addition, the company stated that its city-to-city and business-to-business travel services are available. The company has not stated whether this is a temporary or permanent suspension of service.
The announcement comes in the wake of the announcement that SWVL Bus plans to cut 32 percent of its employees. This plan is an element of its portfolio-optimization plan to increase efficiency and cut central expenses to increase profitability and reach positive cash flow by 2023.
Swvl is looking to provide both monetary and non-monetary job-search assistance to facilitate an easy transition of employees into new jobs. SWV’s portfolio optimization program includes the following components: continuous growth and organic and inorganic expansion in the Transport as a Service (TaaS) and Software as a Service (SaaS) businesses across all industries.
In Egypt and Pakistan, the B2C Business to Consumer (B2C) market is currently the most profitable and revenue-generating market.
Optimizing B2C route networks in specific cities, as well as headcount and operating costs.
Constant investment in the advancement of the company’s technological stack.
SWVL Bus isn’t alone that is facing issues in Pakistan because the country’s technology-based service sector is experiencing an upswing because of the economic downturn that has forced several players to lay off their workforce to survive.