LIVE UPDATES
Bolt Nigeria, a prominent technology-driven ride-hailing platform, disclosed on Tuesday that it had undergone restructuring, resulting in the termination of employment for 22 staff members.
Confirming the development, the company's Communications Manager, Femi Adeyemo, affirmed the layoffs during a telephone conversation with The Punch on Tuesday.
Adeyemo clarified that Bolt Nigeria's restructuring initiative was not prompted by financial challenges but rather aimed at refining its operations.
"22 individuals from a specific department were relieved of their duties, constituting a fraction of the department's total workforce, not nearly half of the entire Bolt team," Adeyemo stated.
He further explained, "The affected employees will receive comprehensive severance packages to facilitate their transition to new career opportunities."
Subsequently, Bolt Nigeria released a formal statement addressing the situation. The statement emphasized that the company's decision to discontinue collaboration with 22 employees in Nigeria was part of an ongoing restructuring effort aimed at enhancing customer support and operational processes in the country.
The statement assured that despite the organizational changes, the quality of service provided to riders and drivers would remain unaffected. Additionally, Bolt reaffirmed its commitment to its investment initiatives across all African markets, including Nigeria.
Formerly known as Taxify, Bolt entered the Nigerian market in 2016 and has since expanded its operations to serve over 150 million customers across 45 countries and 500 cities worldwide.
With a network of over 3.5 million partners, including drivers and couriers, the company continues to play a significant role in the transportation sector, particularly in Africa, where it boasts over one million partners utilizing the app for income generation.
