A popular ride-hailing service company, Bolt in a turn of event has retrenched so many of it’s work force in Nigeria, an act which has triggered reactions as regards their plans and the direction the organization intends due business in Nigeria. Austerity as it may seem, it’s one way the company intends to rearrange it organizational posture towards reducing excesses and as well render more impactful services globally.
Top management officials were not spared, as they were among 22 out of 45 workforce kicked out, which apparently has had a consequent effect on its efficiency in the country. Notably as the price of fuel has soared, including car maintenance are now very difficult challenges. Generally speaking, there is great hurdles traversing and thriving in the economic environment of Nigeria.
The action’s of Bolt is also connected to malfeasance practiced by drivers, who uses their app platform to locate passengers then end a ride, there by ensuring that Bolt gets no commission. This has caused revenue loss there by culminating to the recent moves to save the organization.
Oscangle in an interview with a bolt driver who chose to be simply identified as chinonso, has said that the reason why there’s an increase in sharp practices by so many Bolt drivers is because of the economic difficulty orchestrated by the surge in exchange rate of the Dollar which impacted on components which are necessary for a conducive day to day running of the services. pointing at the soaring price of premium motor spirit, better known as fuel and also the huge amount spent to fix cars in case of damages as their are not insurance to cover up.
Understandably, it’s imperative to cut cost due to the dwindling economic situation on the other hand it calls to question, future survival of Bolt company in the country. This challenges tends to pose as a threat to Bolt’s interest to the country’s market, having more than 250 million rides since it’s commencement of operations in 2016. The retrenchment may weaken efficiency, necessitating reduced quality consequently reducing their reputation and dwindling their customer base.
However, the sacking of huge number of it’s staff may as well be impactful In the wider economy sphere; they are going to be injected into the labour market, wherein there’s difficulty in getting a job market. Causing increase in the number of unemployment rooster which is a very serious challenge that has caused economic instability.
E-hailing taxi’s have ensured that the transportation system in the country takes a new dimension, allowing easy means of passengers commuting from one place to another. Helping to also bridge the unemployment gap to an extent. Unfortunately, the economic crisis the bedeviling the country has made things so unbecoming causing both the drivers to take actions which has proved to be unprofitable.
