Jumia Laid Off 20% of Staff in Q4 2022 Amid Work to Reduce Losses by Half this Year

0 251

Jumia’s streamlining initiatives resulted in a 60% drop in management personnel in Dubai and overall headcount reductions that led to the loss of more than 900 positions throughout its 11 regions, affecting 20% of its workforce.

Also, he disclosed to TechCrunch that by the end of 2022, Jumia planned to significantly reduce its workforce across 11 regions.

For starters, the business has had consecutive quarterly losses ever since it went public in 2019; by year’s end 2022, it had adjusted EBITDA losses of $207 million, up 5.3% from $196 million.

All markets will no longer offer Jumia Prime. Also, the business will stop offering logistics as a service in all areas excluding Nigeria, Morocco, and the Ivory Coast.

Tech crunch

Leave A Reply