Flutterwave has laid off about 3% of its total staff, approximately 30 employees, as it shifts its business strategy to focus on remittance and enterprise services. The affected roles are reportedly connected to products that no longer align with the company’s strategic priorities. This decision follows the discontinuation of its Barter service.
Affected employees will receive an average of three months’ gross salary, adjusted by country of residence, and compensation for unutilized accrued leave days.
Since its inception eight years ago, Flutterwave has not implemented a workforce reduction plan. However, this measure is deemed necessary to align current resources with its future strategy and enhance operational efficiency.
In May, Flutterwave received approval in principle for a payment aggregator license from the Bank of Mozambique, enabling expansion into southern African markets.
Additionally, Flutterwave recently partnered with Nigeria’s Economic and Financial Crimes Commission (EFCC) to build and equip a state-of-the-art Cybercrime Research Center, aiming to intensify the fight against internet crime and enhance the security of online transactions.
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