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Jumia Sacks 900 Workers To Reduce Cost Of Operation - Career (2) - Nairaland

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Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Dialpad: 5:05pm On Feb 20, 2023
Has that company ever been profitable
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by gokay11(m): 5:05pm On Feb 20, 2023
All thanks to Apc stupid policy
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Wealthoptulent(m): 5:06pm On Feb 20, 2023
cry
gokay11:
All thanks to Apc stupid policy
Why can't you people jus read?
Apc dey EGYPT, GHANA H CO?
Ppl need to learn how to not store BITTERNESS!
It unfortunate fr this event to come this present time fr world economy, we all experiencing GLOBALLY!
MasterTeeUSA:
You are IGNORANT. Tech Companies have laid off over 110,000 people worldwide. Google alone 10,000 and Amazon 18,000...you dont hear people blaming the US Govt. READ NEWS Pls


Bro I wonder why ppl can't just read! Looking fr any means to vent out bitterness or anger!

9 Likes 2 Shares

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by baralatie(m): 5:06pm On Feb 20, 2023
that is serious
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by MasterTeeUSA: 5:06pm On Feb 20, 2023
You are IGNORANT. Tech Companies have laid off over 110,000 people worldwide. Google alone 10,000 and Amazon 18,000...you dont hear people blaming the US Govt. READ NEWS Pls


santakris:
......and the problems continue. May we not witness this kind of government again

4 Likes 1 Share

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by yemex04(m): 5:06pm On Feb 20, 2023
santakris:
......and the problems continue. May we not witness this kind of government again






The Report did not actually indicate the lay offs is in Nigeria or limited to Nigeria.

3 Likes 1 Share

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Skillsnigeria: 5:06pm On Feb 20, 2023
Hmmm, job seekers don suffer for this Nigeria
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by MagicMediaCalls(m): 5:08pm On Feb 20, 2023
Omo imagine losing your job in this whole cashless economy drama

••••••••••••••••••••••••••••
• Pick one from the category (Check Flyer)
• Send a with the Recipient's details and your Wishes/Messages (song applicable)
• Pay for the call
• Then leave the rest to us.

We Spread Love through Calls.

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by NaijaCover(m): 5:10pm On Feb 20, 2023
Nawa o
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by MasterTeeUSA: 5:11pm On Feb 20, 2023
It is EVERYWHERE not peculiar to Nigeria or our Govt. Please STOP LIVING IN A BUBBLE and follow the news. I warned about Global recession since last year. UK barely had 0.1% increase in November while Nigeria had over 20 times that amount in growth.




errandsdotng:
Jumia, a pan-African e-commerce platform, says it laid off over 900 workers in order to reduce its cost of operation.

The company, in its 2022 fourth quarter (Q4) financial report released recently, said the cut represents 20 percent of its general workforce.

Jumia said it experienced an operating loss of 41 percent year-over-year, reaching $49.8 million in Q4 of 2022; forcing the company to suspend its “logistics-as-a-service offering in a number of geographies”.

The e-commerce firm also discontinued its food delivery operations in Egypt, Ghana and Senegal where “this activity was
sub-scale, resulting in unit economics dilution with limited consumer lifetime value upside”.

Jumia explained that it decided to cease a number of activities as part of its goal of focusing on core areas of the business with attractive returns on investments and clear ecosystem benefits.

The organisation added that it is delivering on its strategy to reduce losses and accelerate progress toward profitability with a major focus on enhanced cost discipline as well as accelerating monetisation.

“Cost reduction is another key priority of our strategy. We are working across the full cost structure to drive efficiencies,” the report reads.

“In the fourth quarter of 2022, we undertook significant headcount reductions, resulting in over 900 position terminations, corresponding to a 20 percent headcount reduction.

“We have streamlined our organisational structure, creating leaner, more effective teams fully committed to the execution of our strategy.

“As part of our streamlining efforts, we have significantly reduced our presence in Dubai where certain management functions were located, reducing headcount by over 60 percent. Most of the remaining staff are being relocated to our African offices, closer to our consumers, sellers, and operations.

“We expect these headcount reductions to allow us to save over 30 percent in monthly staff costs starting from March 2023, as compared to the October 2022 staff cost baseline. The implementation of these organisational changes resulted in $3.7 million in one-off restructuring costs booked in the fourth quarter of 2022.”

The company also announced gross profit growth of up to 22 percent year-over-year, stating that marketplace revenue reached an all-time high of $41.2 million.

Commenting on the development, Francis Dufay, chief executive officer (CEO), Jumia, said efforts are being made to further strengthen their fundamentals and accelerate profits.

“While the fourth quarter results only reflect a fraction of the actions we are taking, we are seeing early signs of success and remain focused on execution,” Dufay said.

“In light of these encouraging signs, we expect a sharp reduction in adjusted EBITDA loss from $207 million in FY2022 down to $100-120 million in FY2023.

“We remain more-than-ever confident about the growth opportunity across our markets and are making fundamental improvements to our consumer value proposition which will help us drive sustainable long-term growth.”

Source: https://www.thecable.ng/jumia-sacks-900-workers-to-reduce-cost-of-operation

3 Likes 1 Share

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Ckonnet: 5:12pm On Feb 20, 2023
900 converted to obedients.

1 Like 1 Share

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by basilo101: 5:13pm On Feb 20, 2023
Igbo traders winning
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Antoeni(m): 5:13pm On Feb 20, 2023
Nationwide Protest Loading....................
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Angelfrost(m): 5:14pm On Feb 20, 2023
I honestly don't get how Jumia has held on this long!

They are literally running a charity organization as it currently stands! No profit whatsoever!

1 Like

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by MasterTeeUSA: 5:14pm On Feb 20, 2023
The sad part is...they spread the misinformation and wonder why countries are not investing in Nigeria. Imagine people that have never been to Africa asking me if they are still kidnapping all over Nigeria because its on twitter and tiktok. Na we go destroy ourselves with our mouth.



Wealthoptulent:
cry

Why can't you people jus read?
Apc dey EGYPT, GHANA H CO?
Ppl need to learn how to not store BITTERNESS!
It unfortunate fr this event to come this present time fr world economy, we all experiencing GLOBALLY!

Bro I wonder why ppl can't just read! Looking fr any means to vent out bitterness or anger!

3 Likes 1 Share

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by pocohantas(f): 5:17pm On Feb 20, 2023
Tallesty1:

The hardship bites harder everyday.
Everybody is tired and complaining yet some idiots will call you the children of hate because you hate the originators of these hardships.

APC supporters are generally evil.

grin grin
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Thedon22: 5:18pm On Feb 20, 2023
Emefiele is a failure! He bastardized our exchange rate so much so that bag of rice has quadrupled in price. Economic Saboteurs looking for cover-up.
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by MasterTeeUSA: 5:20pm On Feb 20, 2023
https://layoffs.fyi/

If you CARE to, you can TRACK the layoffs all over the WORLD. In US, Israel, UK, Nigeria[/b]....IT Tech Jobs are bleeding because they hired so many people during Covid to build the infrastructure. You dont need that many people now to maintain it. We also have AI.






errandsdotng:
Jumia, a pan-African e-commerce platform, says it laid off over 900 workers in order to reduce its cost of operation.

The company, in its 2022 fourth quarter (Q4) financial report released recently, said the cut represents 20 percent of its general workforce.

Jumia said it experienced an operating loss of 41 percent year-over-year, reaching $49.8 million in Q4 of 2022; forcing the company to suspend its “logistics-as-a-service offering in a number of geographies”.

The e-commerce firm also discontinued its food delivery operations in Egypt, Ghana and Senegal where “this activity was
sub-scale, resulting in unit economics dilution with limited consumer lifetime value upside”.

Jumia explained that it decided to cease a number of activities as part of its goal of focusing on core areas of the business with attractive returns on investments and clear ecosystem benefits.

The organisation added that it is delivering on its strategy to reduce losses and accelerate progress toward profitability with a major focus on enhanced cost discipline as well as accelerating monetisation.

“Cost reduction is another key priority of our strategy. We are working across the full cost structure to drive efficiencies,” the report reads.

“In the fourth quarter of 2022, we undertook significant headcount reductions, resulting in over 900 position terminations, corresponding to a 20 percent headcount reduction.

“We have streamlined our organisational structure, creating leaner, more effective teams fully committed to the execution of our strategy.

“As part of our streamlining efforts, we have significantly reduced our presence in Dubai where certain management functions were located, reducing headcount by over 60 percent. Most of the remaining staff are being relocated to our African offices, closer to our consumers, sellers, and operations.

“We expect these headcount reductions to allow us to save over 30 percent in monthly staff costs starting from March 2023, as compared to the October 2022 staff cost baseline. The implementation of these organisational changes resulted in $3.7 million in one-off restructuring costs booked in the fourth quarter of 2022.”

The company also announced gross profit growth of up to 22 percent year-over-year, stating that marketplace revenue reached an all-time high of $41.2 million.

Commenting on the development, Francis Dufay, chief executive officer (CEO), Jumia, said efforts are being made to further strengthen their fundamentals and accelerate profits.

“While the fourth quarter results only reflect a fraction of the actions we are taking, we are seeing early signs of success and remain focused on execution,” Dufay said.

“In light of these encouraging signs, we expect a sharp reduction in adjusted EBITDA loss from $207 million in FY2022 down to $100-120 million in FY2023.

“We remain more-than-ever confident about the growth opportunity across our markets and are making fundamental improvements to our consumer value proposition which will help us drive sustainable long-term growth.”

Source: https://www.thecable.ng/jumia-sacks-900-workers-to-reduce-cost-of-operation

1 Like

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by porthouse7(f): 5:24pm On Feb 20, 2023
I doubt if they have up to 900 workers on there payroll
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Desammyst(m): 5:26pm On Feb 20, 2023
thelegend1:
It was expected. Most tech business took up more manpower than required during the Covid-19 outbreak.
Now that things are back to normal with business processes and logistics optimized, there's no need bearing the excess overhead costs.

I would advice anyone in Nigeria to find something to produce and sell across supply chains rather than putting their hope on a 9 to 5 job.

Good evening, sir. Please, can you elaborate on producing and selling across supply chain? Things like what? I'm interested in knowing, so I can follow up on it. Thank you
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by blabulu2000: 5:31pm On Feb 20, 2023
AI has taken over.
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by SHINJA: 5:31pm On Feb 20, 2023
CoronaVirusRelo:


It’s a global trend Sir!

The world economy is slowing down!


Trend kill u there. .

Yoruba Muslim urchin
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Tallesty1(m): 5:32pm On Feb 20, 2023
pocohantas:


grin grin
Very wicked set of people
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by sagaciou250: 5:32pm On Feb 20, 2023
WibusJaga:
.

Vote Peter Obi for a new Nigeria. kiss

Else, it will be Business As Usual with PDAPC, & the ugly trend continues.

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Nobody: 5:33pm On Feb 20, 2023
SHINJA:


Trend kill u there. .

Yoruba Muslim urchin

I know you don’t have a cable TV so I won’t join issues with you!

You need to stop spending time on African Magic and Telemundo
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by coolatlantic: 5:33pm On Feb 20, 2023
This is serious!

Learn how to use Microsoft Word

https://www.youtube.com/watch?v=6ct7OT0WZsA
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by lugado: 5:35pm On Feb 20, 2023
santakris:
......and the problems continue. May we not witness this kind of government again

That's the problem with most of you. Just make remarks without reading the article.
Is the sacking done in Nigeria?

1 Like

Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Eraddray(m): 5:38pm On Feb 20, 2023
Kk
Re: Jumia Sacks 900 Workers To Reduce Cost Of Operation by Pleasant01: 5:39pm On Feb 20, 2023
ecolime:
900? shocked

Where will they start from?

APC is truly a curse to this nation.
Did you even read the fuvking article ? The 900 is across Africa not in Nigeria alone.... Nigeria wasn't even mentioned in the article 😒

1 Like

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