Cellulant Layoffs
August 2023
Cellulant announced a layoff affecting 0 employees (20% of its workforce) in August 2023. The company operates in the Finance sector.
0
20%
Aug 23, 2023
About
Cellulant, a Kenya-based fintech startup, is laying off 20% of its workforce as part of a restructuring effort to transition to a leaner, product-led business model. This follows a previous round of layoffs six months earlier that affected about 30% of staff. CEO Akshay Grover stated the move aims to boost operational efficiency, consolidate functions, and reallocate capital to drive growth across its 19 markets. The decision reflects the company's response to a dynamic operating environment and its goal to remain a market leader.
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