Wednesday, July 24, 2024

Sadapay Lays Off 30% of Workforce Following Papara Acquisition

Pakistan-based Electronic Money Institution (EMI) SadaPay has laid off approximately 30% of its workforce, equating to around 80 employees, just over a month after its acquisition by Turkish fintech company Papara.

The layoffs were announced by interim CEO Umer Samiullah during a brief company-wide meeting. According to media reports, employees were informed about the meeting in advance but were unaware that they would be dismissed.

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The affected staff, spanning various departments such as tech, product, marketing, design, finance, and compliance, were terminated without prior notice.

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