Kenya-based logistics startup, Sendy, has announced it's laying off 20% of its employees and shuttering its Supply service arm in order to focus solely on its Fulfillment service.
The startup says this will enable it to provide a streamlined service for business clients.
This action is coming after the startup laid off 10% (~30 staff) of its 300-member workforce in August due to “current realities impacting tech companies globally.” Now, Sendy is laying off about 54 individuals (~20%) from the remaining 270 employees.
However, he clarified that the "gap between where we are today and where we’re supposed to be is still huge. To put that into context, if you look at the last three months from a GMV perspective, we’re only 65% of where we need to be. And from a revenue perspective about 44%. So the gap is quite huge. And we need to do something about it, given the tough economic conditions we’re seeing.
This year has been a very challenging one for startups globally occasioned by macroeconomic tailwinds. Many startups have shuttered with some laying off employees to still stay afloat.
In the first half of the year, startups across Asia, Latin America, Africa and the Middle East all laid off some of their employees in response to the harsh economic climate.