A growing number of Tesla workers in its German factory have recently lamented over the company’s unhealthy work conditions
These workers disclose that they are made to work for unreasonable long working hours with very little time for rest or leisure.
They were initially reluctant to voice out their plight due to the non-disclosure agreement contract they signed when they resumed work at the company but however decided to reveal what they are going through.
Following these accusations, the tech giant automaker has come under fire from German Union IG Metall and several German politicians.
IG Metall which has been in talks with these workers disclosed that they started with great enthusiasm at the company, but suddenly their energy began to dissipate over unreasonable working hours.
Also, the German business newspaper Handelsblatt disclosed that local politicians from the center-left SPD to the center-right CDU expressed concern about the allegations, calling for inquiries by both Tesla and the local government.
Investors King understands that in June last year, Tesla struggled to hire workers for its German Gigafactory due to low wages. Reports disclose that skilled workers at the factory earned around 20% less than employees at rival manufacturers.
When Tesla opened the Gigafactory in Germany, it had a target to produce 5,000 vehicles a week, but however, failed to reach its target due to major recruitment problems.
Reports disclose that current staffers are leaving jobs at the company due to low and unequal pay, as well as inexperienced management.
Last year, an employee who pleaded anonymity, described the Berlin gigafactory as “total chaos.”
The employee said, “Some people are off sick longer than they’ve actually worked. There are people who I haven’t seen working for three weeks in six months. Many people are signed off sick because the motivation isn’t there,” they say, blaming poor working conditions. The exits involve temporary staff and permanent employees who have been there for over a year, hired before the gigafactory opened.
Bitmama Inc. Acquires Payday, Expanding Fintech Footprint in Nigeria
Nigeria’s blockchain payments platform Bitmama Inc. has successfully acquired Payday, a virtual card service provider.
The acquisition, facilitated through Bitmama’s cross-border payments product, Changera, signals a pivotal shift in the industry and consolidated the blockchain payment platform by acquiring 100% of Payday’s customer base.
Launched in 2021, Changera is set to absorb key personnel from Payday, spanning various departments like marketing, customer service, and engineering.
While specific details of the financial terms remain undisclosed, a source close to the matter revealed that the acquisition process is approximately “85% complete.”
For the over 300,000 customers formerly under Payday’s purview, the transition to Changera’s care promises a seamless experience, with minimal noticeable changes.
Despite Payday CEO Favour Ori’s integration into Bitmama’s team remaining uncertain, Changera is well-positioned with an established leadership and a robust technical team.
A senior member of Bitmama’s management assured that Payday’s brand will persist but will now operate under the broader umbrella of Changera, supported by its stablecoin infrastructure.
This integration aims to address operational challenges faced by Payday, such as industry-wide charge-back fraud, disruptions in Mastercard services, and the departure of senior team members.
Post-acquisition, Bitmama plans to embark on an ambitious roadmap, including the development of a new solution enhancing foreign exchange (FX) transactions for African businesses.
Anticipated for launch in Q1 2024, this solution aims to facilitate smoother and more efficient B2B cross-border financial interactions.
The acquisition of Payday by Bitmama aligns with the broader trend of strategic consolidations within the fintech industry, reflecting a pattern where companies seek partnerships and acquisitions to overcome market challenges and scale operations.
This move mirrors similar strategic consolidations, including the acquisition of Chaka by Risevest in September 2023, underscoring the industry’s drive towards collaborative growth.
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