Hundreds of employees at Kuda Technologies Limited were abruptly laid off during a company-wide virtual meeting, marking a dramatic turn in the fintech’s ongoing restructuring drive.
The development unfolded on Wednesday, March 25, when staff joined a video call with senior executives—only to be informed before the meeting ended that their roles had been terminated. The cuts spanned several departments, according to sources familiar with the situation and internal documents.
Management maintained that the decision was part of a broader strategic shift rather than a response to financial strain.
“Kuda is evolving how the organisation is structured to support the next phase of our growth and scale,” a company spokesperson said. “This is not a decision driven by financial pressure, but part of the natural evolution of a company at our stage, aligning with industry benchmarks.”
Executives also told employees that the layoffs were not tied to individual performance but followed a review of operational priorities and long-term direction.
“As part of this process, some roles across the business have been impacted. We know this is difficult, and these were not decisions we took lightly,” the spokesperson added. “We are supporting those affected with enhanced severance packages and practical transition support, while staying focused on serving our customers and continuing our long-term growth.”
Internal figures show the scale of the impact in certain units, with 19 of 40 employees in the marketing team affected.
A portion of the notice issued to impacted staff outlined the rationale behind the move: “As you know from the announcement/meeting on 25th March 2026, the Company is considering restructuring its operations and aligning its headcount.
“Following a strategic review of future operational priorities, industry benchmarking, and long-term direction, the Company has identified the need to restructure and reorganise certain departments.”
However, the sequence of events leading to the announcement left many employees unsettled. An unusual company-wide meeting had been scheduled earlier in the day, but several staff reportedly struggled to access the call link. When the session eventually commenced, executives confirmed the job cuts.
Some affected workers criticised the process as lacking clarity, while others questioned the timing, pointing to recent recruitment drives, including senior-level hires.
Kuda said severance packages have been tailored based on role and length of service, with some employees expected to receive up to seven months’ pay. The company also introduced an enhanced exit option tied to a legal agreement.
“The enhanced severance payment would be conditional upon you entering into a legally binding settlement agreement… [and] agree not to bring any claims,” part of the notice read.
