Paystack to Lay off 33 Employees in the UAE and Europe
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Paystack, the Nigerian fintech acquired in 2020 for $200 million by Stripe, is laying off 33 workers in Europe and UAE. The company’s CEO, Shola Akinlade says the layoff is happening because Paystack is reducing its operations outside Africa. Akinlade says the affected staff will be getting a severance package which includes four months’ salary, accelerating equity vesting, and an extension of health insurance by three months.
Paystack to Lay off 33 Employees in the UAE and Europe