Ukrainian Maudau marketplace cuts staff over Russian logistics attacks
Maudau marketplace, part of Fozzy Group, said it was being forced to optimize its workforce due to Russian attacks on the company’s logistics facilities.
Ukrainian e-commerce platform Maudau is downsizing its workforce in response to Russian attacks on the company's logistics facilities, according to a statement on its LinkedIn page. The company, a part of Fozzy Group, cited the need to maintain business resilience and adapt to new conditions as reasons for the workforce optimization.
Maudau employed over 700 people, as indicated on its website. The YouControl analytical system reported that Maudau LLC is owned by PJSC fund Holding Invest, with Volodymyr Kostelman as its ultimate beneficial owner. Despite the challenges faced, Maudau emphasized its commitment to handling the workforce reduction in the most honest, appropriate, and respectful manner possible.
In 2023, the company experienced a 15% increase in net loss compared to the previous year, reaching UAH 743.8 million, while net revenue grew by one-third to UAH 3.1 billion. Russian shelling damaged five of Maudau's distribution centers, which supplied goods to popular stores like Silpo, THRASH!, and Fora, in August.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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