2 years ago
The Nigerian fintech, Chipper Cash, precocious said it has fto spell of much employees and that this measurement has been taken to assistance the steadfast incorporate its operating costs. Although nary fig of the fig of axed workers was given, 1 study estimated this to beryllium astir 100, oregon 12.5% of Chipper Cash’s full workforce. Chipper Cash CEO Ham Serunjogi has dismissed reports that the fintech has unopen down its crypto department.
The Deteriorating Macroeconomic Climate
The Nigerian fintech, Chipper Cash, precocious confirmed it had laid disconnected a 2nd batch of employees arsenic portion of measures aimed astatine containing the company’s operating costs. Although nary fig has been provided, 1 study estimated the cuts to beryllium astir 100 people, oregon 12.5% of Chipper Cash’s full workforce.
According to a Techcrunch report, the fintech’s steadfast latest retrenchment workout has impacted each areas, from quality resources to the probe and ineligible departments. Commenting connected the fintech’s axing of talented employees little than 3 months aft it laid disconnected the archetypal group, Chipper Cash CEO Ham Serunjogi elaborate the circumstances that prompted the institution to fto spell of immoderate of its talent.
“The past 2 years were a play of accelerated maturation and scaling for america arsenic a concern and, to bespeak this, our planetary headcount grew by astir 250 people. However, fixed the macroeconomic climate, we are narrowing our existent absorption to halfway markets and products – concentrating our efforts wherever we cognize we tin thrive,” Serunjogi reportedly said.
The CEO added that with the unfavorable circumstances that person present prevailed for much than 1 year, Chipper Cash tin lone run efficaciously with a smaller team.
Meanwhile, the aforesaid study quotes Serunjogi denying reports that Chipper Cash has unopen down its crypto department. According to the CEO, the fintech startup’s crypto trading level is 1 of the largest successful Africa and 1 of its “fastest increasing products,” hence Chipper Cash volition “continue to put successful the product.”
Register your email present to get a play update connected African quality sent to your inbox:
What are your thoughts connected this story? Let america cognize what you deliberation successful the comments conception below.
Terence Zimwara
Terence Zimwara is simply a Zimbabwe award-winning journalist, writer and writer. He has written extensively astir the economical troubles of immoderate African countries arsenic good arsenic however integer currencies tin supply Africans with an flight route.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.
English (US) 