SadaPay let go of 80 workers today. This means about 30% of its workers no longer have jobs. The layoffs happened a month after Turkish fintech company Papara bought SadaPay.
Umer Samiullah, the temporary CEO, told everyone at a quick company meeting about the job cuts. Workers knew about the meeting before, but they didn’t know they would lose their jobs.
The workers who lost their jobs worked in different areas like technology, products, marketing, design, money matters, and following rules. They didn’t know they would lose their jobs before it happened.
In June, a few days after Papara bought SadaPay, Brandon Timinsky left his job as CEO. Papara said it bought SadaPay on May 30.
At that time, Timinsky was hopeful. He said, “We are lucky to use Papara’s industry skills, advanced technology, and different things they sell. With SadaPay’s good name, great team, and being local, this buy will help us a lot in giving value to Pakistan’s 250 million people.”
Brandon Timinsky started this electronic money company in 2019. It fast became one of the quickest-growing electronic money businesses in the world. It got 1 million people using it in a short time.
To read our blog on “Pakistani Fintech startup, SadaPay, raises funds for large-scale launch,” click here
