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Sad News: IrokoTV Lays Off 130 Employees.

It seems IrokoTV has joined the list of tech companies that have laid off their employees, this list includes the likes of Microsoft, HTC, Samsung, to name a few. According to Techmoran and other reliable sources, IrokoTV sacked a total of 130 employees!

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Techmoran’s sources  accused IrokoTV’s CEO, Jason Njoku of indecisiveness, mismanagement, cruelty and riding the Nollywood fame’.  According to the source,

“They don’t like to pay locals what they’re worth and they overpay the new London team. iROKO is a success story because Jason makes noise. Goes on BBC, his blog and journalists don’t ask hard questions during interviews. He’s always promoting himself but with subscription less than 50K globally and declining there’s much to worry about,” claimed a former senior employee. “Jason is a great sales guy, so brilliant but sells his dream and then when you buy it, he demoralizes you and fires you. It’s terrible, people crying and feeling low. It’s the greatest mind fuck of it all.” –

The people who were sacked includes  lead of partnerships, the lead of offline, lead of YouTube, its CTO, its engineering lead plus the telesales team and content operations.”

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Jason himself was quoted saying

” We’ve had to say goodbye to valued team members from the Lagos office over the past few months,” ——- “Mainly our Lagos-based offline marketing department were affected – we’re reducing numbers in that area of the company and approximately 130 staff have been let go.

This is part of a larger restructuring that will see the company move personnel and resources to other parts of the business as well as relocate operations that require stronger infrastructure to its office in New York. There are some roles which required stronger infrastructure (moving large files) and experienced hands so we shifted them outside Lagos.”

Honestly, for a startup like IrokoTV, laying off 130 people at once is a lot! However, in business, you have to do what you have to do.

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18 Comments

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