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Managing Director of Ha-Meem Group, AK Azad, has said his company plans to reduce its workforce by 10,000 employees as global buyers continue to push for greater reliance on artificial intelligence (AI) without increasing prices.
Speaking on the “Ekattor Business” programme hosted by Iqbal Ahsan on Sunday, Azad said Bangladesh was struggling to keep pace with rapid global technological changes.
“The world is moving towards greater dependence on artificial intelligence, but we are not progressing at the same pace,” he said. “Buyers have clearly told us they will not increase prices. As a result, I will have to reduce manpower by using artificial intelligence. I currently have 75,000 workers, and my target is to cut 10,000 jobs.”
Azad warned that the affected workers were mostly skilled employees and questioned what opportunities would remain for them after losing their jobs.
“These 10,000 people are skilled workers who were employed. Where will they go now? That is why the government must adopt a far-sighted approach in this budget,” he said.
The industrialist also expressed concern over the growing number of factory closures across the country, blaming rising operational costs and a lack of efficiency.
“Many companies are collapsing because they cannot meet price demands. Their efficiency is not improving, but their costs are rising. As a result, factories are shutting down every month — not only garment factories, but other industries as well,” he said.
“If we fail to keep pace with the global market and become more efficient, we will not survive.”
Referring to the government’s employment goals, Azad said the private sector would ultimately have to generate the jobs promised by the Prime Minister.
“The Prime Minister repeatedly says that one crore jobs will be created. But those jobs will have to come through us,” he said.
He also urged the central bank to lower interest rates, arguing that industries could not operate sustainably under the current lending rates.
“We have clearly told the Bangladesh Bank governor to reduce interest rates. Factories cannot continue operating with interest rates of 13 to 14 per cent,” he added.
Azad further stressed the importance of strengthening the domestic economy alongside export-oriented industries.
“We have export-oriented industries, but more than 85 per cent of our economy is domestic. Alongside exports, the internal economy must also be revitalised if we want to meet local demand,” he said.
https://thedailyexpress.news/news/business/1f162fa4-68f7-69b0-b2b5-2cc31af76fc0