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LinkedIn Ranked Bamboo, Piggyvest, Moove Among Top 10 Nigerian Startups to Work With in 2022

Bundle Africa, Piggyvest, Bamboo, Moove among six others emerged as LinkedIn’s top 10 Nigeria startups to work

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Bamboo - Investorsking.com

Bundle Africa, Piggyvest, Bamboo, Moove among six others emerged as LinkedIn’s top 10 Nigeria startups to work.

LinkedIn released its list of top 10 emerging companies in Nigeria that are gaining both national and international attention. 

Topping the list is Bundle Africa, a financial service company founded in 2019. Following Bundle Africa was Utiva, an e-learning provider. 

Moove, another financial service company was ranked 3rd while Okra, a software development company was ranked 4th. Both Moove and Okra were established in 2020.

Also featured on the list is Cowrywise, a financial services company established in 2017. Cowrywise was ranked 5th while another financial services company, Bamboo which was established in 2019 took the 6th position. 

Other startups on the list include Nomba, TeamApt, Prospa and Piggyvest which were ranked in the 7th, 8th, 9th and 10th positions respectively. All four are financial services companies. 

A clear look at the list by Investors King shows that all the listed startups in the top 10 are headquartered in Lagos State.

According to the professional networking platform, despite the present nature of the economy and the stormy challenges of growing a company, the top ten companies are rising to the challenges and continue to innovate and gain attention in 2022.

LinkedIn further disclosed that it used LinkedIn data across four pillars to arrive at the list. The four pillars are employee growth, Jobseeker interest, member engagement within the company and its employees, and how well the startups pulled talent from top brands. 

LinkedIn further clarified that the list is ultimately meant to be a resource for jobseekers. Especially those that are excited with the opportunity to innovate, grow and solve big problems.

Of all the top ten startups, Moove has the highest headcount which currently stands at 425. TeamApt followed with a headcount of 350 while Nomba has a headcount of 235. 

Piggyvest has a headcount of 105 followed by Bamboo with a headcount of 75.  Prospa has 70, Utiva has 55, Okra has 50 while Cowrywise has the least headcount of 45.

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South Korean Doctors Walk Off Jobs, Demand Better Conditions

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A significant portion of South Korea’s medical workforce, consisting of over 7,800 interns and residents, have resigned from their positions to protest against working conditions and policy directives.

The mass resignation, emblematic of deep-seated discontent within the medical community, has thrust the nation’s healthcare system into turmoil.

Ryu Ok Hada and Park Dan, representative of the disenchanted junior doctors, highlight a chorus of voices calling for improved pay, reduced work hours, and increased recognition.

The doctors, often hailed as a crucial cog in South Korea’s esteemed medical infrastructure, decry being overworked, underpaid, and unheard.

The protests stem from a broader dissatisfaction with the status quo, with hospitals witnessing a surge in canceled surgeries and turned-away patients amidst the walkout.

Such disruptions underscore the pivotal role junior doctors play, particularly in emergency rooms, intensive care units, and operating theaters, where their absence is acutely felt.

At the heart of the issue lies the grueling work hours endured by South Korean doctors, who routinely face shifts lasting over 36 hours, far exceeding international standards.

Park Dan, head of the Korean Intern Resident Association, emphasizes the demanding workload, with doctors often exceeding 100 hours of work per week, all for meager compensation ranging from 2 to 4 million won ($1,500-$3,000) monthly.

The government’s response, marked by threats of arrest and license revocations, has only escalated tensions.

Despite orders to return to work, the doctors argue that such measures are unconstitutional and infringe upon their rights.

Prime Minister Han Duck-soo’s assurances of extended hospital hours fail to address the core grievances raised by the medical community.

Central to the doctors’ demands are calls for legal protection from malpractice suits, equitable compensation, and structural reforms within the healthcare system.

While acknowledging the plight of their patients, doctors like Park Dan express the difficulty of navigating a system that prioritizes policy over practitioner welfare.

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Kaduna Electric Implements 10% Salary Hike Amidst N110 Billion Debt Crisis

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Electricity - Investors King

Kaduna Electricity Distribution Company (Kaduna Electric) has announced a 10% salary increase for its workforce, despite grappling with a debt of N110 billion and operational challenges.

The decision follows the dissolution of the company’s board of directors by the Nigerian Electricity Regulatory Commission (NERC) due to its failure to settle the substantial debt owed within the Nigeria Electricity Supply Industry framework.

Umar Hashidu, appointed by NERC as the company’s administrator under Section 75 of the Electricity Act, emphasized the strategic significance of the salary increment during a meeting with the management team.

Hashidu stressed the importance of boosting employee morale and enhancing overall company performance amidst economic uncertainties.

The salary adjustment is a proactive measure aimed at motivating staff in the face of prevailing economic challenges, noted Hashidu, acknowledging the pressing need to address the escalating cost of living crisis.

Despite Kaduna Electric’s struggles in meeting market obligations and complying with NERC performance indices, Hashidu expressed optimism in overcoming these hurdles through concerted efforts.

The announcement signals a period of transition and reform within Kaduna Electric, following the resignation of the former Managing Director, Yusuf Yahaya.

Despite the company’s debt burden and leadership changes, the salary hike reflects a commitment to prioritize employee welfare and maintain operational stability.

As Kaduna Electric navigates through its financial challenges and strives for improved performance, the salary increase serves as a testament to the company’s dedication to supporting its workforce amidst adversity.

It remains to be seen how this move will impact the company’s trajectory in the Nigerian Electricity Supply Industry landscape.

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UPS Announces 12,000 Job Cuts Amid Cost Reduction Plans

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United Parcel Service's (UPS)

Global logistics giant UPS has announced its decision to cut 12,000 jobs or 2.4% of its extensive 500,000-strong global workforce.

The decision comes as UPS seeks to achieve $1 billion in cost reductions, citing subdued demand and rising union labor expenses, as stated during its earnings call on Tuesday.

CEO Carol Tomé acknowledged the challenges faced in 2023, emphasizing the company’s commitment to focusing on controllable factors and fortifying its groundwork for future growth despite the adversities.

A UPS spokesperson clarified that the job cuts would impact less than 3% of the company’s total workforce and would not affect union-represented roles.

The reductions are expected to span across various regions and functions within UPS, with 75% of the cuts anticipated to occur within the first half of the year.

UPS’s fourth-quarter revenues for 2023 amounted to $24.92 billion, falling short of Wall Street analysts’ expectations of $25.43 billion.

Consequently, UPS shares experienced a decline of over 8% in Tuesday’s trading session.

The decision follows UPS’s agreement with the Teamsters union last July, which saw adjustments to the pay structure for both full-time and part-time workers.

This move is part of UPS’s broader strategy to streamline operations and navigate evolving market dynamics while maintaining its commitment to financial prudence and sustainability.

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