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Traction App Downsize Workforce Following OmniRetail Takeover
Traction App Downsize Workforce: Following its recent acquisition by OmniRetail, fintech startup Traction Apps has announced plans to downsize its workforce.
In a recent statement, the company explained that the layoffs are a consequence of the acquisition, aimed at optimizing operations and aligning with the company’s future goals.
While Traction Apps has not disclosed the exact number of employees or the specific departments that will be impacted, insider information suggests that the sales, engineering, and marketing divisions are among those affected.
Traction App Downsize Workforce
The company also mentioned that some Traction team members are being reassigned within OmniRetail, and efforts are underway to identify additional opportunities for others.
According to Techpoint, the statement read, “Following the acquisition of Traction Apps, as with all mergers and integrations, we are optimizing certain departments to align with our broader vision.
This restructuring is a strategic step to enhance efficiency and scalability across our value chain, ensuring that we remain well-positioned for long-term growth. Most of the senior team members who played a key role in the growth of Traction have been retained.”
The affected employees were notified about the layoffs approximately a week before the public announcement of the acquisition.
Also Read: OmniRetail Acquires Traction Apps, Aims to Process ₦2 trillion For SMEs Annually
Layoff to Enhance Efficiency Across The Company
As part of the acquisition, Traction Apps co-founders Mayowa Alli and Dolapo Adejuyigbe have taken on new roles at OmniRetail as Director of Technology for Payments and Director of Operations for Payments, respectively.
According to the startup, severance packages will be provided for affected employees by Nigerian labor laws, while it offers them career counseling and job placement services.
“With the acquisition of Traction Apps, we are strengthening our leadership capabilities to deliver best-in-class services across the retail value chain,” the statement read, clarifying that no members of Traction’s leadership team will be affected by the layoffs.
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