African fintech unicorn, Chipper Cash has fired 15 employees in a variety of divisions during its fourth round of layoffs this year.
The corporation eliminated almost a dozen positions, including that of Chief Operating Officer Alicia Levine, six months prior to the most recent layoffs. The company’s US staff comprises the majority of the impacted personnel.
In a statement to TechCabal, Chipper Cash confirmed the latest layoffs and said that, despite the challenges that have been highlighted over the past few months, its business was “doing very well.”
“We constantly look to ensure we have as much efficiency as possible within our global organization, and only a small number of roles were impacted by the minor restructuring,” a spokesperson told TechCabal.
“No roles in Africa were affected—this year we have expanded teams on the continent. Our business is doing very well and will be profitable in a few months.”
Apart from the layoff, Chipper Cash also reduced the pay of its surviving staff in the US and the UK.
Chipper Cash was founded in 2018 by Ghanaian Maijid Moujaled and Ugandan Ham Serunjogi. The two set out to transfer money into Africa using digital means.
