E-commerce company, Jumia, has announced that it laid off 900 employees in the latest round of big tech layoffs.
The workers affected in the layoff, according to the company, represent about 20 per cent of its workforce.
The new development comes days after eBay Inc announced plans to lay off 500 of its employees.
Jumia in its Q4 2022 financial report released on Thursday said it expected the headcount reductions to allow it to save over 30 per cent in monthly staff costs starting from March 2023.
“In the fourth quarter of 2022, we undertook significant headcount reductions, resulting in over 900 position terminations, corresponding to a 20 per cent headcount reduction,” it said.
Following the layoffs, the company said it has streamlined its organizational structure, creating leaner, more effective teams, fully committed to the execution of its strategy.
