Sadapay layoff has surprised the fintech community as the company has abruptly terminated at least 30% of its workforce just over a month after the company’s acquisition by Turkish fintech giant Papara. The announcement was made by acting CEO Omer Salimullah in a brief company-wide meeting, leaving many employees shocked and uncertain about their future.
Sadapay Layoff Announcement
The news of the Sadapay layoff was conveyed in a five-minute meeting led by acting CEO Omer Salimullah. Employees were informed about the meeting only the night before, with no prior indication that such a drastic move was imminent. Approximately 80 individuals from various departments, including tech, product, marketing, design, finance, and compliance, lost their jobs without any warning.
Impact on Employees
The sudden layoffs have ignited concern and criticism from both within and outside the company. Many employees have expressed their shock and disappointment, questioning the abrupt nature of the decision and the lack of communication. A LinkedIn user commented on the situation, stating that during mergers or acquisitions, the previous owners should ensure a smooth transition for existing employees and negotiate terms that prevent immediate layoffs by the new owners; this would provide employees with a period to adjust to new management and explore other opportunities if necessary.
The Sadapay layoff highlights the uncertainties and challenges that can accompany corporate acquisitions, especially when workforce reductions are involved. As the fintech community watches closely, the focus now shifts to how Sadapay and Papara will handle the aftermath of these layoffs and what steps will be taken to support the affected employees during this challenging transition.
Read more: LinkedIn Cuts 668 jobs in Second Round of Layoffs this Year
