Tech Gist

The Job Security Issue With Nigerian Tech Startups: Dealdey Sacks 60% Of Its WorkForce

If you’ve been following Misstechy, you should be aware of the recent trend with Nigerian tech startups and even non-startups, the rate at which employees are being cut off, especially with the tech startups in Nigeria is alarming. Even if there is no such thing as Job security, one can’t help wondering why everything is happening at the same time.
Now, reports have it that Dealdey has sacked 60% of its employees with the bulk of the affected staff drawn from operations, logistics and sales departments, the report also stated that Dealdey’s warehouse will be closed. This is after raising $5 million from AB Kinnevik to ramp up its technology and expand into other cities. 60% is definitely a lot and might be the highest cutoff so far in Nigeria.
Prior to this, most job seekers will not mind taking a job at a startup given its perks. For example, If you are starting with the company, you will be able to increase your ranks as the company grows and if the startup succeeds, you will most likely hold a significant stake in the company. However, are these potential payoffs worth the risk of taking a job at a tech startup? The risk being that startups have the worst job security ever thanks to their tight cash flows and dependence on investor’s money to run operations which might not always work out as planned.
So, should Job seekers avoid tech startups totally?
Not really.
The lack of job security is something that almost everyone must face at one time or another. However, the truth is  startup companies aren’t for everyone. Startups may fail, but there’s always the chance it might succeed, and even if it doesn’t, you will undoubtedly walk away with a unique experience to help you find your next job or start your own thing, If you think you can handle this, then you’d consider whatsoever setback as a stepping stone to something greater.


7 comments on “The Job Security Issue With Nigerian Tech Startups: Dealdey Sacks 60% Of Its WorkForce

  1. Chris says:

    It’s sad we are facing such situation as a country. I believe all will be well, I totally agree with the Quote by Bo Bennett

  2. emmaedeh says:

    Startup sometimes succeed at other times they fail. My Ex-boss was Larry Page’s class mate. Larry offered him a shares plus a position as he was to start Google. My Ex-boss laughed at the idea of a startup based on Search, and turned down the offer. Today he wishes he had taken the offer. He would have been a Nigerian tech billionaire.
    So its fair to say, the future of a startup is never set in stone

  3. peterjero says:

    Tech startups in Nigeria is so filled with uncertainty because long term isn’t the focus but short term.

  4. OBA says:

    …People shouldn’t see this as a Nigeria-only problem. Even Samsung and other well known firms are doing so…

  5. KingAbsolute says:

    This is getting too much, @peterjero just said what I had in mind after seeing this post.
    Don’t these companies have long term plan? Or are they just selfish & let people that made them what they are go to enjoy more profit?
    I pray things get better in this country.

  6. Joshua says:

    It’s sad we are facing such situation
    as a country.
    just too bad, Smh

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