Chipper Cash Downsizes Workforce in The US And UK After Halting Operations in The United States
Financial technology company serving more than five million customers across the African continent Chipper Cash, has announced its decision to eliminate roles based in the UK and the US, redirecting its focus to other African business regions, as detailed in a company blog post.
This move is occurring one week after the fintech company suspended operations in the United States.
Reports disclosed that the layoff will impact about twenty employees due to this restructuring. According to sources familiar with the matter, at least two executives were affected by the decision.
Chipper Cash CEO Ham Serunjogi, emphasized the company’s commitment to its core focus on African markets, where it boasts some of the largest consumer products.
He also noted that despite the US operations’ suspension, Chipper Cash plans to resume offering its services there in the near future.
Recall that in December 2023, the fintech company, implemented workforce reductions, laying off 15 individuals and reducing salaries by 25% for employees in the UK and US. Despite these measures, the company maintained that its business was thriving.
While urging US customers to promptly withdraw their funds, Chipper emphasized that the impact of the suspension was minimal, according to Serunjogi’s statement to The Information. He clarified that the United States had never been a primary focus for the company, and its services there were merely an extension of its offerings in Africa.
