B Mirror Report:  Ha-Meem Group Managing Director A.K. Azad has announced plans to reduce the company’s workforce by 10,000 employees, citing increasing production costs, global market pressures, and the growing adoption of artificial intelligence (AI) in manufacturing.

Speaking on the television program “Ekattor Business” on Sunday, Azad said many businesses in Bangladesh are struggling to remain competitive, with some factories already shutting down.

“Not only garment factories, but other industries are also facing serious challenges,” he said. “Inflation averages around 9 percent annually, which means workers’ wages must continue to rise.”

Azad noted that international buyers are unwilling to pay higher prices for products despite increasing production expenses. Instead, he said, global brands are encouraging manufacturers to adopt AI and technology-driven production systems that require fewer workers.

“The world is moving toward artificial intelligence, and we also have to use AI to reduce manpower,” he said.

According to Azad, Ha-Meem Group currently employs around 75,000 workers. The planned workforce reduction of 10,000 employees will affect skilled workers who are already employed.

“These are skilled workers with jobs. The question is, where will they go?” he said, urging the government to adopt a more forward-looking approach in its budget policies to address employment challenges.

Azad also called for lower borrowing costs, arguing that high interest rates are making it difficult for manufacturers to operate profitably.

“We have clearly told the Bangladesh Bank governor that interest rates need to come down. Factories cannot continue operating with interest rates of 13 to 14 percent,” he said.

The announcement highlights growing concerns within Bangladesh’s export-oriented manufacturing sector as companies face rising costs, technological transformation, and increasing competition in the global marketplace.