Andela, the Pan-African tech accelerator firm, has just announced that it is letting go as many as 400 junior engineers across its operations in Nigeria, Kenya, and Uganda.
A press statement released by the Tech firm noted that this is in line with the company’s restructuring of its talent pool in a bid to meet growing market demands.
The layoffs come as the startup released first time income figures indicating it will surpass $50 million in annual revenues for 2019.
Yes, the news seems a bit disjointed. Not everything moves in the same direction in the business of startups.
On the staff cuts, “they are due to market demand for more senior engineering talent,” Andela said in a company release.
“We’ve seen shifts in the market and what our customers are looking for…toward more experienced engineers,” CEO Jeremy Johnson told TechCrunch.
For those who may not know Andela’s business, the startup’s client-base is over 200 companies around the world that pay for the African developers Andela selects and trains to work on projects.
Founded in 2014, Andela has offices in New York and five African countries: Nigeria, Kenya, Rwanda, Uganda, and Egypt. The Series D tech-venture is one of Africa’s most visible (by press volume) and best funded ― backed by $181 million in VC from investors that include the Chan Zuckerberg initiative, TechCrunch reports.