YC-backed food supply startup Vendease restructures employees’ salaries
- Vendease laid off 44% of its workforce, approximately 120 employees, marking its second round of job cuts in five months.
- The startup has replaced traditional salaries with a performance-based pay system and an Equity Share Option Plan (ESOP).
- All employees received a ₦140,000 (~$90) salary in February, with plans to gradually increase salaries based on performance targets.
Bendada.com - Mar 18, 2025
Vendease restructures employee salaries, seeks fresh funding
Nigerian food procurement startup Vendease is restructuring its compensation system and shifting to
Vendease's restructuring efforts and focus on performance-based compensation could be a double-edged sword; while it may enhance productivity and align employee interests with company goals, it also raises concerns about employee morale and retention in a challenging economic environment. The reliance on BNPL as a revenue driver indicates a strategic pivot, but the sustainability of this model amidst ongoing financial pressures remains to be seen.
