Report: Chipper Cash lays off more workers – crypto department is still on, says CEO
Nigerian fintech, Chipper Cash, recently confirmed that it has laid off the second batch of employees, apparently with the aim of reducing the company’s operating costs. Although no figures have been given, according to a report, it can be estimated that this cut will be around 100 people or 12.5% of the entire workforce of Chipper Cash will fall prey to this cut.
A report by TechCrunch suggests that this latest layoff at the fintech firm has certainly affected all areas, from human resources to research and legal departments. Commenting on this fintech move to hire talented employees less than 3 months after laying off the first cohort, Chipper Cash CEO Ham Serunjogi also detailed the circumstances that led the company to let go of some of its talent. inspired to give. Serunjogi said that it goes without saying that the last 2 years were a period of rapid growth and scaling as a business and to reflect this the global workforce has grown by approximately 250 people while the macroeconomic environment We can say that our current focus has been limited to core markets and production and with this focusing our efforts we know we can succeed. The CEO states that even with the adverse conditions prevailing for more than 1 year, Chipper Cash can operate effectively with only a small team and meanwhile Serunjogi refutes that report. In which it is said that Chipper Cash has closed its cryptocurrency division and according to the CEO, the fintech startup’s crypto trading platform is the largest in Africa and is considered one of its fastest growing products and That’s why “Chipper Cash” will continue to invest in the product.