Thursday, December 5, 2019 - Days after shutting down operations in Tanzania, e-commerce giant, Jumia, has laid off 30 employees in its Kenyan office.
The 30 workers translate to 6% of its staff in Kenya.
While confirming the layoff, the company stated that they are working with the affected employees to find suitable placements for them.
Sources privy to the goings-on at the company intimate that layoffs are in line with MTN and Rocket Internet’s (the companies that own Jumia) restructuring plan to cut down on its costs.
Last month, Jumia announced that it had made losses of nearly $1 billion.
The company has been on a downward spiral since it listed in the New York Stock Exchange early this year.
The share price has since dropped to single digits which has seen the company lose its unicorn status.
Jumia is operating in Nigeria, Kenya, South Africa, Egypt, Ghana, Morocco, Uganda, Senegal, Rwanda, Ivory Coast, Tunisia, and Algeria.
The Kenyan DAILY POST