Payments platform Cellulant is parting ways with 20% of its workforce as part of its restructuring moves.
The exact number of employees wasn’t disclosed, but Cellulant has about 634 employees on LinkedIn which means close to 126 employees will be affected.
The company cited “organisational restructuring” as the basis for the layoff. According to a statement seen by TechCabal, the layoffs will be implemented in the coming days.
Affected employees will be offered exit packages alongside extended medical cover for themselves and their families.
“Our goal is to treat our impacted colleagues with dignity and respect. As such, we provide comprehensive separation packages and extended medical coverage for every impacted employee and their families in every country,” Cellulant added.
This is Cellulant’s second round of layoffs, following a reduction in early 2023. While the economic downturn might have played a major role in the layoffs, Cellulant cites that it has been honing its business over the last two years which has led to consolidating some roles and creating new ones in the process.
