Sendy Layoffs
August 2023
Sendy announced a layoff affecting 0 employees (100% of its workforce) in August 2023. The company operates in the Logistics sector.
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100%
Aug 8, 2023
About
Kenyan logistics startup Sendy is shutting down operations and selling its assets after running out of funds, marking the end for a company once valued over $80 million. The B2B e-commerce and logistics firm, which had targeted raising $100 million last year, struggled with operational costs and pricing challenges. After a 10% workforce reduction in July 2022, Sendy laid off 54 employees in October 2022 and exited the Nigerian market in February 2023 as part of severe cost-cutting measures. Unable to secure sufficient new investment or a buyer, the company ceased operations around August 2023, leaving it unable to cover salaries and forcing an asset sale.
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