Softcom has reportedly laid off staff after owing salaries in December 2021 and November 2022

December 14, 2022
1 min read

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The news

  • Softcom has allegedly laid off 10% of its workforce after owing salaries in December 2021 and November 2022.
  •  The company’s problems started after it was unable to get investments and payment from its clients 
  • Employees claim that the company’s management has said nothing about owed salaries as they all go to work like nothing happened.

According to the Notadeepdive newsletter by Olumuyiwa Olowogboyega, Softcom, the company behind digital bank Eyowo, has reportedly laid off 20 staff of an estimated 200 workforce. 

Per Olowogboyega, the layoffs were preceded by owed salaries that began in December 2021. Employees were informed that they won’t be receiving their salary for that month on December 25, 2021, and although salaries were eventually paid, 40% of the employees didn’t receive any payment at all. 

The salary delays were reportedly owed to the fact that the company was unable to raise funds and get paid for the service it rendered to clients. 

Softcom was also reported to have gone through some restructuring prior to the layoff. 10% —20 — of Softcom’s employees were laid off while some were still being owed November 2022 salaries. 


According to a quoted employee, “we received an email this week about a meeting with the CEO, but that didn’t happen, and no one said anything. We’re expected to keep coming to the office and acting like nothing is happening.”

Techpoint Africa reached out to the company for an official statement but hasn’t gotten a response at the time of publication.

He's a geek, a sucker for Blockchain and an all-round tech lover. Find me on Twitter @BoluAbiodun1.
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