Why IROKO furloughed 28% of our Nigeria team

So I have been a bit quiet on the blogging front. Pithy messaging on Twitter aside, I have been scenario planning out the rest of 2020. The title should give you an indication as to why. It hasn't been an easy month and I needed to communicate fully to the IROKO team, suppliers and board on our new doomsday scenario, before releasing more widely - starting here. But read on, I feel the psychology behind my decision making and timeline may help people through these extraordinary climes. Very early out of the gate, I encouraged aggressive cost cutting at the startups I am involved in. I didn't for IROKO as things appeared like a boon time for us. I took a more cautious wait and see view.

50% Layoffs or 50% Paycut

When they announced the Lagos State lockdowns, IROKO wasn't surprised. In fact, we had expected them and were fully prepared. The entire company had already gone into working from home mode. At the onset of that, we had the unfortunate yet immediate...

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