Bolt Nigeria is undergoing a restructuring process that includes discontinuing collaboration with 22 employees in Nigeria.Â
This decision represents an adjustment in response to economic challenges impacting the company’s operations in the country.
The restructuring effort, according to reports, aims to optimize customer support and operational processes to enhance efficiency and sustainability.Â
The company emphasized that this action does not reflect financial struggles but rather strategic adjustments to ensure long-term viability in the market.
The decision to discontinue collaboration with certain employees aligns with Bolt’s plan to ensure accountable business practices and support affected individuals through a transition to new career opportunities. Severance packages have been offered to facilitate this transition.
Concerns about economic factors such as high fuel prices, rising spare part costs, and inflation affecting the ride-hailing industry have been acknowledged by industry sources. These challenges have impacted ride prices and driver earnings, contributing to a broader reassessment of business operations.
Despite these adjustments, Bolt remains focused on Nigeria and its broader investment responsibilities across Africa. The company reaffirms its confidence in the potential of the Nigerian market and emphasizes its focus on delivering quality services to riders and drivers.
This restructuring initiative follows previous reports of workforce adjustments in February 2023. At that time, Bolt underwent a similar process, leading to the reduction of junior and mid-level staff while retaining senior and management roles. The company’s People Manager pointed to operational restructuring as the rationale behind these decisions.
Moving forward, Bolt remains in the dynamic market, serving customers while adapting to changing economic realities. The company’s focus on operational excellence and strategic adjustments is an industry response to challenges within the mobility sector.
