Copia Global is planning a fresh round of layoffs, the latest cost-cutting move at the Kenyan e-commerce startup.
The layoffs may impact up to 30 per cent of its staff, including its permanent workforce.
In a statement quoted by Techtrendske, Copia said it will be undergoing a limited restructuring of its operations in response to the economic downturn and constrained capital markets.
The company is optimizing several key processes to provide better service to its customers and drive sustained operating profitability.
According to a statement from Copia, “This limited restructuring process is intended to ensure that during these economically challenging times, Copia will continue to focus its resources on the critical levers of business success and remain a lean and sustainable business for the long-term.”
‘’This decision is consistent with many of the best companies in Africa and across the world which are responding to the market environment and prioritizing profit. ‘’
In April, it suspended its Africa expansion plans due to current economic challenges.
Established in 2013, Copia’s model leverages a network of digitally-enabled, locally-based agents who operate as order and delivery points to meet consumers where they are, online or offline.