Tingo Mobile, a fintech company whose CEO has been in the news for fraud lately has laid off about 40 of their staff members, owing them 2 months’ salary, December and January to be precise.
In early February 2024, Tingo Mobile and HR Indexx (HRI) laid off contractors who helped new users get started and fixed problems on TingoPay, the digital payments app. The layoffs happened during a call with the affected contractors and HR indexx has voiced out that Tingo should be held responsible for whatever action was taken.
According to TechCabal, the contractors were being told by HR to learn other skills so that they could start applying for other jobs. This came as a shock because no one saw this coming or maybe they did but without the “unpaid salary” clause.
All that is happening should have been expected as Tingo hasn’t been at their best lately. Since the previous year, Tingo Group has faced continuous charges from the US Securities and Exchange Commission, which has greatly affected the finances and coordination of the organization.
Since the investigation by the SEC started, several actions have been taken, including suspending trading in the shares of Tingo Food Plc. Speculations are that the “firing spree” will reach even more workers within the group as it is currently struggling to find its feet amidst the chaos.
As the year started with loads of layoffs from different companies across the tech industry, we hope the affected individuals can bounce back in no time and find their feet without having to stress too much.
