PayStack is an African Fintech company that provides an opportunity for its customers to enjoy online and offline payments. Currently, over 200,000 people do business with the company and this is majorly because Paystack is one of the fastest and simplest ways to accept online payments in Nigeria. Another good thing about Paystack that business owners and many of their other customers get to enjoy is the zero integration fee and Zero maintenance fee. To make transactions seamless and frictionless, the company also provides different products such as cards, Apple Pay, Visa QR, Mobile money, POS, Bank transfer, and even an account for each customer. 

Consistently, Paystack has demonstrated its commitment to revolutionizing digital payments in Africa by offering a user-friendly interface and a large number of payment options. 

Why is Paystack laying off some of its staff? 

Yesterday, November 16, 2023, the co-founder and CEO at Paystack, Shola Akinade took to his Twitter page to announce that Paystack will be parting ways with almost 33 employees, mostly in Europe and Dubai. He stated that the reason for this new development is that, at Paystack, they are changing the operating model to only prioritize locating team members within the area they serve, to localize costs and get closer to customers. 

He also revealed in this tweet, that in the last 3 years, their hiring philosophy was to recruit great talent regardless of location, including opening an engineering hub in Dubai. But now, times have changed and they have to move with what works for the organization. 

Being considerate and having the interest of the employees at heart, he also said "We’re sparing no expense to minimize disruption to the lives of team members. The severance package includes 4 months salary, accelerating equity vesting, extending health insurance by 3 months, and more." 

He further admitted that some of the people who are currently being dispersed are the most talented he has ever worked with. However, he did something so many people think was quite remarkable; the CEO stated that his goal is to ensure that the workers being laid off find new roles as soon as possible, and that he is ready to vouch for each of them whenever reference calls. 

He ended his tweet by attaching a link to a form where founders looking for great talent can indicate their interest so that he could recommend the right people. 

Reactions from the Public 

The comment section and quotes of the tweet made by the CEO have been filled with so many positive comments about how he has displayed empathy to the fullest. 

A Twitter user said; 

"I like when CEOs have empathy and not just see employees as statistics. I wish them all the best." 

Another said; 

"Paystack's leadership is one of the most empathetic I've seen. Wishing them the best." 

Although the CEO started the tweet by saying that yesterday was a difficult day for them at Paystack, we hope that the responses from the public send a bulk of calm down their way. 

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