Twiga cuts 33% of its staff to boost operational efficiency
Almost 10 months after laying off 21% of its workforce, Twiga Foods, a B2B platform which facilitates connections between farmers and food vendors, is downsizing again, amidst a declining purchasing power among its customers and a slowdown in VC funding.
The Kenyan e-commerce platform is letting go of 283 employees, which accounts for 33% of its 850-strong workforce, as part of its strategy to become a lean, agile, and cost-effective organization, with plans to optimize its operations and bolster operational efficiency.
To date, Twiga Foods has raised a total of $157.1 million in funding over 18 rounds and its latest funding of $50 million in Series C was raised in November 2021, as the Techloy chart below shows.
