ISLAMABAD: Property Tycoon Malik Riaz has laid off atleast 40 employees from its digital media platform Nukta due to ‘financial crisis’.
According to sources, the sudden lay off of such huge number has sent a wave of concern amongst the employees.
That sources within Nukta revealed it was due to growing financial stress on the organisation that led to lay offs.
It merits mentioning that Nukta had employed a large number of people on exuberant salaries.
According to sources, the sad news was delivered by the president NUKTA Kamran Khan in today’s 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.
