Nigerian fintech Traction Apps has cut jobs following its acquisition of OmniRetail
- Traction Apps confirms layoffs after acquisition by OmniRetail.
- Decision influenced by the need to optimize departments for efficiency.
- Sales, engineering, and marketing teams reportedly impacted by layoffs.
The layoffs at Traction Apps following its acquisition by OmniRetail highlight the often harsh realities of mergers and acquisitions, where restructuring can lead to job losses despite the potential for long-term growth. It raises questions about the balance between efficiency and employee welfare in the fintech sector.
