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Flutterwave lays off 3% of its workforce as it restructures

Nigerian-based payment giant Flutterwave has announced laying off about 24 employees in a strategic move

One of Africa’s leading payment technology companies, Flutterwave, has announced laying off 24 employees, representing 3% of its workforce. This move comes three months after the discontinuation of Barter (a virtual card service that offers a cheaper and seamless way to send, request, and receive money, pay merchants and bills, and access the internet from the convenience of your mobile phone).

The strategic move is part of the company’s plan to refocus on its core business areas, particularly enterprise payments and the expanding remittance segment through its SendApp.

Reports by TechCabal reveal Flutterwave confirmed the recent decision in a statement saying, “After a thorough analysis of our strategic priorities, including a renewed focus on enterprise customers and remittances, we came to the conclusion that some roles within the organisation are redundant.”

Acknowledging the contributions of the departing employees, referred to as “wavers,” the company expressed gratitude for their hard work and dedication. To support the transitioning employees, Flutterwave is offering a comprehensive severance package.

Since its launch eight years ago, Flutterwave says it has yet to implement a workforce reduction plan. However, this step has become necessary to align current resources with its future strategy and enhance operational efficiency.