US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
Job Cuts
FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Barclays’ bid to cut costs saw 5,000 jobs axed in 2023
A Barclays spokesperson confirms the cuts were part of the bank’s “ongoing efficiency programme”.
2023: A year of fintech job cuts
FinTech Futures takes a look back at a bruising year of job cuts in fintech.
ABN Amro to acquire Dutch neobroker Bux for undisclosed sum
ABN Amro hopes the deal will help it gain a foothold in the retail investment space.
FinTech Futures: Top five stories of the week – 1 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Metro Bank to axe 20% of jobs and review branch opening hours in push to cut costs
The bank is due to cut around 800 jobs as it looks to save up to £50 million per year in costs.
Barclays could reportedly cut around 2,000 jobs in push to reduce costs by £1bn
Reuters reports that the bank’s managers are looking to increase profitability and are reviewing proposals.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
US fintech Carta reportedly conducts third round of layoffs this year
The cuts were first reported by Fortune, but the total number of employees impacted is currently unknown.
N26 to cease operations in Brazil within the next two months
The challenger bank wants to focus its efforts on its “core markets”, namely Germany, France, Spain and Italy.
UK core banking tech vendor Thought Machine cuts workforce by 8%
The job cuts are expected to impact around 50 roles predominantly in its sales and marketing departments.
FinTech Futures: Top five stories of the week – 13 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
BaaS fintech Synapse lays off 40% of staff in fresh round of job cuts
In a statement, Synapse says it has “a strong group in place” to manage its operations and customers.
Virgin Money to shutter 39 bank branches across the UK
The closures, which will take effect in October, will leave Virgin Money with 91 bank branches in the UK.
N26 reportedly cuts 15% of Brazilian workforce
N26 Brazil has laid off around 20 staff, according to local news outlet Estadao.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payoneer becomes latest fintech to cut jobs
The US payments platform is to cut 9% of its workforce by Q3 2023.
GoCardless names Franck Cohen as first chairman of the board
GoCardless CEO says the appointment brings them the the ability to make “fast and effective decisions”.
FinTech Futures: Top five stories of the week – 30 June 2023
Featuring Orange Bank, Visa, Pismo, Robinhood, and more.
Robinhood reportedly laying off 7% of staff in fresh round of job cuts
The news marks Robinhood’s third round of layoffs since April 2022.
Goldman Sachs reportedly set to lay off 125 managing directors worldwide
Sources tell Bloomberg that the layoffs are currently ongoing as the bank looks to cut costs.
UK paytech GoCardless lays off 15% of its workforce
GoCardless cites the current economic environment as the reason behind the layoffs.
FinTech Futures Jobs: Why early-career workers no longer see tech giants as a safe bet
Explore thousands of open roles on the FinTech Futures Job Board today.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
FinTech Futures: Top five stories of the week – 2 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
German mobile tax app Taxfix cuts 120 jobs in restructuring effort
The cuts amount to around 20% of the start-up’s total workforce, according to TechCrunch.
US banking giants JP Morgan Chase and First Citizens cut 500 jobs each
Both banks laid off around 500 employees last week, according to media reports.
FinTech Futures: Top five stories of the week – 19 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Zepz reportedly axing 420 jobs as firm looks to streamline operations
The cuts will fall largely on Zepz’s customer care and engineering teams, CNBC reports.
German challenger N26 to cut 71 jobs, around 4% of total workforce
N26 says the cuts are a result of the firm “sharpening its focus on its strategic priorities”.
FinTech Futures: Top five stories of the week – 5 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Morgan Stanley reportedly set to cut 3,000 jobs by end of Q2
A dearth of deal making is to blame, Bloomberg reports, with a 32% decline in the bank’s merger advisory arm.
Indian fintech unicorn Open lays off 47 employees
Open says the cuts were based on employee performance.
Aussie financial software firm Iress to cut 10% of staff amid business restructure
The cuts come as the company looks to form “a more efficient and focused organisational structure”, Iress says.
FinTech Futures Jobs: Demand for tech workers is strong, putting employees in the driving seat
Explore thousands of open roles on the Fintech Futures Job Board today.
What the FinTech? | S.4 Episode 5 | Levelling up UK fintech
In this episode of the podcast, we’re joined by Charlotte Crosswell, chair of the newly formed CFIT.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Copper.co announces job cuts amid “strategic realignment”
Copper intends to “realign” its business to focus on its custody and prime services solutions.
