Big Cabal Media cuts 19% of its workforce, cites “harsh market conditions”

Big Cabal Media cuts 19% of its workforce, cites “harsh market conditions”

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#employment
Big Cabal Media (BCM), the parent of TechCabal, Zikoko and Citizen, has laid off 19% of its workforce due to “harsh market conditions”. “This is a challenging decision in a year that has tested us immeasurably, and we empathise with the talented employees affected by this decision. For those leaving, we appreciate the hours and backbreaking work you’ve put in to move our mission forward,” the company said in an internal memo to employees on Friday, August 4.

Big Cabal Media, the parent company of TechCabal, Zikoko, and Citizen, has laid off 19% of its workforce due to "harsh market conditions." The company plans to focus on its tech media publication, TechCabal, and its youth culture magazine, Zikoko, while scaling back its new publication, Citizen, which focuses on politics and governance in Nigeria. The layoff was a challenging decision in light of the difficult year, and the company expresses empathy for the affected employees. Despite a 180% increase in revenue in the first half of the year, the growth did not meet budgetary expectations, partly influenced by the Nigerian currency devaluation in June. The company intends to become more efficient and self-sustaining, with a focus on TechCabal and Zikoko for its future growth.


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