Jumia continues to struggle with mounting costs and losses, recently highlighted by its recent exit in two countries. Gadgets Africa reports that Jumia Kenya has laid off 30 workers, as its owners seek to reduce costs. Jumia confirmed the layoffs, citing that the company is working with the affected employees to find suitable replacements.
SEE ALSO: Jumia Leaves Tanzania, 10 Days After Exiting Cameroon
The 30 workers represent 6% of the workforce in Jumia Kenya.
The retrenchment adds to Jumia’s bad year. The giant listed on NYSE at a share value of $44. However, the stock is now trading at less than 15% of its initial listing price, closing at $6.07 today. Moreover, the company staggered through accusations of falsifying sales data, which marred its reputation. The company also took a blow after its Nigerian sales staff undertook dubious sales practices, which accounted for 4 per cent of its sales in the first quarter of 2019.
READ: Jumia fires part of its sales staff due to fraud, Q2 Loss Up 60% to Ksh 7.6 Bn
Last week, Jumia left Tanzania, only a few days after exiting Cameroon and firing all its staff. Moreover, there is still unconfirmed information that the e-commerce platform will exit Congo and Gabon.
