A little over a month after announcing its acquisition by Turkish fintech Papara, SadaPay abruptly fired at least 30% of the company’s staff today. The news was conveyed by acting CEO Omer Salimullah, in a five-minute company-wide meeting that the staff was informed about the night before.
An estimated 80 people in Sadapay’s tech, product, marketing and design teams, including some from finance and compliance departments have lost their jobs, without any prior communication or warning. Among the ones who lost their jobs at Sadapay were The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
