TheCable

Nigeria’s economic condition is beginning to take its toll on growing businesses, as Konga, one of the nation’s largest online mall, lays off 80 employees – 10 percent of its workforce.

While promising a restructuring exercise, which will result in an increase in its business optimization and organizational effectiveness, Konga said reasonable severance packages would be offered to the affected staff.

In an official statement by the company on the development, it was revealed that the exercise will enable Konga.com to run more efficiently as it positions itself for the future.

“With this restructuring and by taking advantage of new innovations and upcoming retail opportunities in the market space, we are optimistic that we are on the path to grow an even healthier and more sustainable business, whilst delivering best-in-class service to our customers,” Konga said.

“The decision to restructure and realign our company’s focus to be more agile in the prevailing local economic conditions is not one that was taken lightly.

“For the affected employees, Konga will be offering reasonable severance packages and will be willing to give them future opportunities for employment in the company where their competencies match.”

The company recently launched KongaPay, which has been regarded as a secure innovative payment solution that allows customers to perform one-click payments for their transactions.

Konga was listed as one of the best places to work in Nigeria at the 2015 Great Place to Work in Nigeria (GPTWN) Awards, as the only indigenous company in the e-commerce sub-sector to be so recognized.

In 2015, Ventures Africa Magazine also listed the company as one of the top 10 companies young people prefer to work in.