Bolt Nigeria lays off 20 employees amid restructuring

Acquah Nana Yeboah -

Ride-hailing company Bolt has reportedly laid off 20 staff members from its Nigerian subsidiary, Bolt Nigeria, according to anonymous sources within the company.

The layoffs come a day after Bolt announced plans to recruit 326 new staff globally, including three managerial positions in Nigeria. Bolt Nigeria currently employs around 70 workers, meaning almost a third of its workforce has been cut.

According to a local news outlet, the layoffs were reportedly announced by Bolt's Regional Manager for West and North Africa and ROW, Ire Obatoki, during an All Hands Meeting held on Monday, with the affected staff later given one-on-one exit chats with Bolt's People Manager for West and North Africa, Afolake Ismaila.

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The layoffs were said to be made to restructure the company's Nigerian operations, with three senior staff roles currently open for applications. Bolt's People Manager indicated to the affected staff that the reason for the layoffs was "restructuring".

The sources claim that most of the junior and mid-level staff have been affected, with many unhappy with the severance package offered to them. The layoffs were said to come with only one week's notice, and Bolt's previous promises that there would be no layoffs have led to disappointment and frustration for those affected.