FinTech Futures: Top five stories of the week – 25 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Job Cuts
Danish fintech Pleo hires Meri Williams as new CTO
Williams was formerly CTO at Monzo where they helped scale the engineering and data team by 500%.
FIS reportedly looking to cut thousands of jobs under new CEO
Bloomberg reports that the cuts to the workforce are expected to be staggered.
Juni trims one-third of its workforce in second round of layoffs
The layoff comes just two months after it shed 10% of its workforce.
Fintechs Pleo, Chime and Chargebee cut jobs as economic uncertainty bites
The three firms join an ever-increasing list of fintechs hit by the current economic volatility and uncertainty.
FinTech Futures: Top five stories of the week – 4 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Stripe lays off 14% of staff amid challenging economic climate
The cuts to its workforce will return Stripe to its February 2022 headcount of almost 7,000 people.
US lender Upstart cuts 140 jobs as loan demand drops
Upstart says it is “making this difficult decision for the long-term health of the company”.
FinTech Futures: Top five stories of the week – 28 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Credit Suisse to cut 9,000 jobs, raise $4bn in capital as part of new transformation plan
CEO Ulrich Körner says the restructuring is a “historic moment for Credit Suisse”.
FinTech Futures: Top five stories of the week – 21 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintechs Brex and MX announce layoffs
Brex is set to lay off 136 employees – approximately 11% of its total workforce.
Banking Technology Magazine October 2022 issue out now
Cover story: INVESTING IN THE FUTURE – Putting money in the right places.
Indonesian fintech unicorn Xendit sheds 5% of its workforce
Xendit says affected employees will receive “suitable compensation” alongside additional benefits.
Klarna cuts more jobs just months after laying off 10% of global workforce
The BNPL giant is planning more cuts after laying off approximately 700 staff back in May.
European open banking platform TrueLayer to shed 10% of workforce
Despite “significant growth” in payment volumes over the last 12 months, the firm is looking to cut 40 employees.
African challenger Kuda cuts 5% of workforce
Kuda says cuts were made across growth, marketing and product departments in the company.
US real estate fintech Reali to close down
The firm will be laying off most of its workforce on 9 September 2022.
Australian crypto exchange Swyftx cuts 21% of workforce
Swyftx says 74 employees will be laid off as the firm grapples with global economic uncertainty.
Cartoon: Dancing in the rain
This new cartoon illustrates how different companies are dealing with the onset of the recession.
FinTech Futures: Top five stories of the week – 5 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Growth capital firm Clearco cuts 125 jobs citing “significant” economic headwinds
Clearco founders cite rising interest rates, high inflation and e-commerce growth slowdown as factors.
Robinhood to cut 23% of staff, crypto unit fined $30m
Robinhood CEO Vlad Tenev says previous staff cuts announced in April “did not go far enough”.
Don’t let the doom and gloom clip your fintech’s wings
The key to managing this downturn is to focus entirely on your own circumstances.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Digital challenger Varo Bank lays off 75 employees in effort to cut costs
CEO Colin Walsh says the firm is “not immune to the impacts of our current environment”.
Banking Technology Magazine July / August 2022 issue out now
Cover story: MAKING THE DREAM WORK – Helping Ukraine in a planet-friendly way.
Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility
As well as the layoffs the wealthtech will be “laser-focused” on core businesses investing, banking and crypto.
Layoffs and hires: Curve, Gemini and Citigroup
Curve and Gemini lay off employees, while Citi plans on hiring 4,000 techies.
Blockchain-based trade finance platform we.trade shuts shop
We.trade claims to be “the world’s first enterprise-grade blockchain-enabled trade finance platform”.
German neobank Nuri becomes latest firm to announce layoffs
The challenger bank laid off 45 of its employees last month.
FinTech Futures: Top five stories of the week – 27 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payments fintech Bolt announces layoffs
The news follows a string of layoffs in the fintech space in recent weeks.
BNPL giant Klarna to cut 10% of workforce amid “tumultuous year”
Klarna CEO says he remains “relentlessly optimistic” about the firm’s future.
US fintech MainStreet lays off 30% of employees
CEO Doug Ludlow cites “today’s incredibly rough market” as the reason for the layoffs.
Property lender Better.com lays off more than 3,000 staff in fresh cuts
The announcement was made by the company’s interim president Kevin Ryan via an e-mail to affected staff.
Video: fintech news pick of the week – Better.com, WeLab & Rapyd
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Better.com CEO apologises after laying off 900 workers over Zoom
CEO Vishal Garg says he “blundered the execution” following a barrage of criticism.
Société Générale to cut 3,700 jobs, combine IT systems in Credit du Nord merger
French banking group plans to have 30% of its retail products sold online by 2025.
Fired credit union employee deletes 21GB of internal data in 40-minute spree
Juliana Barile accessed her old account and destroyed sensitive documents.
