Kuda—Kuda laid off hundreds of Nigerian staff in restructuring, conditioning enhanced severance on non-claim settlement agreements
Nigerian digital bank Kuda cut jobs across core departments in a restructuring announced March 27, 2026, with hundreds of employees feared affected according to TechCabal and Nairametrics reporting. Severance packages of up to 7 months' pay were offered, but enhanced severance was made conditional on employees signing settlement agreements including a clause not to bring any claims against the company. The restructuring followed a shift in strategy from aggressive expansion toward profitability, after losses narrowed to $5.83 million in 2024 from $35.11 million in 2023.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Worker Rights | -against | primary | -1.00 |
| Overall incident score = | -0.644 | ||
Score = avg(topic contributions) × significance (medium ×1) × confidence (0.64)
Evidence (2 signals)
TechCabal: Kuda cuts several jobs as restructuring hits core units, hundreds feared affected
Kuda restructured core units in March 2026, cutting jobs with hundreds of employees feared affected. Enhanced severance of up to 7 months' pay was made conditional on employees signing settlement agreements including a clause not to bring claims against the company.
Nairametrics: Kuda lays off hundreds of staff across departments in restructuring move
Nairametrics corroborated TechCabal's reporting that Kuda laid off staff across multiple departments in a March 2026 restructuring as the company shifted focus from expansion to profitability, following losses of $5.83 million in 2024 (down from $35.11 million in 2023).