By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ng
  • News
    • Politics
    NewsShow More
    EFCC Arrests Bank Operations Manager for Hoarding N29 Million in New Naira Notes
    February 7, 2023
    Lagos Police Uncover Plot to Unleash Violence Amid New Naira Notes
    February 7, 2023
    FIRS, Lagos State Sign MoU to Establish Joint Tax Audit System
    February 7, 2023
    Christian Atsu still missing, not found — Hatayspor President
    February 6, 2023
    Abdulrasheed Bawa
    Contempt: Court sentences EFCC boss to Kuje Prison
    February 6, 2023
  • Entertainment
    EntertainmentShow More
    Beyonce
    Beyonce Breaks All-Time Grammy Record with 32 Wins
    February 6, 2023
    Viola Davis
    Viola Davis’ Memoir “Finding Me” Earns Grammy for Best Audiobook Narration
    February 6, 2023
    Viola Davis
    Viola Davis Makes EGOT History, Wins Grammy for Best Audiobook Narration
    February 6, 2023
    Tems
    Tems Shines Bright at the Grammys with Best Rap Melodic Performance Award
    February 6, 2023
    Tony Elumelu Shares Throwback Picture from His Youth Service Days
    February 3, 2023
  • Business & Economy
    Business & EconomyShow More
    FIRS, Lagos State Sign MoU to Establish Joint Tax Audit System
    February 7, 2023
    MTN CEO Ralph Mupita Praises NGX for Democratising Access to Financial Securities
    February 6, 2023
    (L-R) Chairman, Sinoma International Engineering (Nanjing) Co. Ltd., Liu Renyue; President/CE, Dangote Industries Limited, Aliko Dangote; Group Executive Director, Strategy, Capital Projects & Portfolio Development, Dangote Industries Limited, Devakumar Edwin; and Group Managing Director, Dangote Industries Limited, Olakunle Alake at the Signing ceremony in Lagos, of 2x6000 TPD Cement Project, Itori Cement Plc, Ogun State in Lagos.
    Dangote, Sinoma Sign Agreement to Build Six Million Ton Cement Plant in Ogun State
    February 1, 2023
    Emefiele: CBN to Continue Accepting Old Naira Notes After February 10 Deadline
    January 31, 2023
    NNPC Takes Over Addax Petroleum Assets
    January 31, 2023
  • Sport
    SportShow More
    Name on my jersey wrongly spelt — Casemiro
    February 5, 2023
    Nigerian billionaire, Dozy Mmobuosi closes in on buying English club, Sheffield United
    February 3, 2023
    Antonio Conte
    Spurs head coach Antonio Conte to undergo surgery for Cholecystitis
    February 1, 2023
    Man United’s Eriksen ruled out for 3 months over injury
    January 31, 2023
    Osimhen shines as Napoli extend lead in Serie A title race
    January 30, 2023
  • Tech
    TechShow More
    Google announces ChatGPT rival Bard
    February 6, 2023
    Samsung Galaxy S23
    Glo, Samsung Strike Exclusive Deal for New Galaxy S-23 Smartphone
    February 4, 2023
    ChatGPT Plus: OpenAI launches Premium Version of its Popular Chatbot
    February 1, 2023
    SpaceX Launches Starlink Services in Nigeria: The First African Country to Receive Satellite Internet
    January 31, 2023
    Kashifu Inuwa
    Forbes Recognizes NITDA’s Kashifu Inuwa with Best of Africa Corporate Governance Award
    January 16, 2023
Reading: Konga.com Sacks 80 Workers As It Restructures.
Share
Aa
Okay.ngOkay.ng
Aa
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Konga.com Sacks 80 Workers As It Restructures.

Damilola A. By Damilola A. Published January 15, 2016
Share
3 Min Read
SHARE

Konga-Logo-700x261-300x112

News reaching us at Forumspotz.ng states that Nigerian e-commerce marketplace, Konga.com is laying off ten percent of its 800-strong workforce.

According to sources familiar with the situation, the layoffs will run across the whole organization. The company expects to reap operational efficiency and business effectiveness gains from the move.

In an emailed statement to us, a Konga representative said:

- Advertisement -

“With this restructuring and by taking advantage of new innovations and upcoming retail opportunities in the market space, we are optimistic that we are on the path to grow an even healthier and more sustainable business, whilst delivering best in class service to our customers. The decision to restructure and realign our company’s focus to be more agile in the prevailing local economic conditions is not one that was taken lightly”.

The company says it is offering severance packages to the 80 workers affected by the restructure, and will assist with connecting them to other opportunities that match their competences.

We also put a call through to a Konga.com representative regarding this issue & he confirmed to Forumspotz that the status of the firm is currently hot as sack letters are being distributed to the affected workers.

Since 2014, Konga has been steadily reinventing itself as a marketplace rather than the e-tailer it began life as in 2012. Which means that it is taking in less inventory and making use of less warehousing infrastructure while turning its attention to working more with merchants. It stands to reason that the ecommerce startup might require less in-house capacity than it currently has to efficiently run its operations.

Macro-economic and market dynamics are also at play as well. Rival ecommerce startup, Jumia, as well as Iroko, and DealDey, effected job cuts in late 2015, a move that we believe is a matter of them pragmatically correcting themselves before the markets correct them.

Konga has raised an aggregate of $74 million, but internally we believe the true number to be north of $100 million. Revenues grew 450 percent from 2013 to 2014. During its 2015 Yakata Sales, Konga’s CEO Sim Shagaya took to Twitter to announce that Konga processed about N110 million worth of orders in the first four hours.

TAGGED: e-commerce, Konga.com, sack
Share this Article
Facebook Twitter Whatsapp Whatsapp Telegram Email Copy Link Print
What do you think?
Happy0
Love0
Sad0
Angry0
Joy0
Surprise0

Connect with Okay on Social

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

EFCC Arrests Bank Operations Manager for Hoarding N29 Million in New Naira Notes
News
Lagos Police Uncover Plot to Unleash Violence Amid New Naira Notes
News
FIRS, Lagos State Sign MoU to Establish Joint Tax Audit System
Business News
Google announces ChatGPT rival Bard
Tech
Christian Atsu still missing, not found — Hatayspor President
News
- Advertisement -

You Might Also Like

News

EFCC Arrests Bank Operations Manager for Hoarding N29 Million in New Naira Notes

February 7, 2023
News

Lagos Police Uncover Plot to Unleash Violence Amid New Naira Notes

February 7, 2023
BusinessNews

FIRS, Lagos State Sign MoU to Establish Joint Tax Audit System

February 7, 2023
News

Christian Atsu still missing, not found — Hatayspor President

February 6, 2023
Previous Next
Okay.ngOkay.ng
Follow US

© OKN MEDIA PUBLISHING 2022 - All rights reserved

  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
Welcome Back!

Sign in to your account

Lost your password?