By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
24x7Report24x7Report
  • Home
  • World News
  • Finance
  • Sports
  • Beauty
  • Fashion
  • Fitness
  • Gadgets
  • Travel
Search
© 2023 News.24x7report.com - All Rights Reserved.
Reading: Zepz, a $5 billion fintech unicorn, is laying off more staff
Share
Notification Show More
Aa
24x7Report24x7Report
Aa
Search
  • Home
  • World News
  • Finance
  • Sports
  • Beauty
  • Fashion
  • Fitness
  • Gadgets
  • Travel
  • en English
    • en English
    • id Indonesian
    • ms Malay
    • es Spanish
Follow US
© 2023 News.24x7report.com - All Rights Reserved.
24x7Report > Blog > Finance > Zepz, a $5 billion fintech unicorn, is laying off more staff
Finance

Zepz, a $5 billion fintech unicorn, is laying off more staff

Last updated: 2023/11/30 at 10:10 AM
Share
3 Min Read
Zepz, a $5 billion fintech unicorn, is laying off more staff
SHARE

Zepz, which owns the WorldRemit and Sendwave manufacturers, has a headcount of round 1,600.

Sopa Photos | Lightrocket | Getty Photos

Zepz, the cash switch group that owns WorldRemit, made a recent spherical of layoffs.

The British fintech unicorn, which is backed by TCV, Accel, Leapfrog and different main enterprise capital funds, instructed CNBC completely that it laid off 30 roles throughout its folks and advertising and marketing capabilities.

“Zepz has entered a redundancy session which can may have an effect on lower than 2% of its international headcount,” a Zepz firm spokesperson stated in an unique assertion to CNBC.

“Zepz values the contributions these colleagues have made to our firm,” the spokesperson added.

“As a part of the redundancy bundle, all impacted people shall be provided help by way of our Worker Help Programme, together with teaching, counselling, and re-employment help.”

“According to our organisational values, our precedence is making certain all choices referring to redundancies and restructuring are well-communicated and delivered with humanity whereas defending the privateness of these impacted,” the spokesperson added.

That follows a separate spherical of layoffs the corporate launched into earlier this 12 months.

In Could, Zepz minimize 26% of its workforce, citing duplication of roles that resulted from its acquisition of Sendwave, one other cash switch service.

Zepz hasn’t been resistant to the results of slowing momentum within the digital funds area, which has pressured firms to chop again on prices and, in a number of instances, lay off employees.

The corporate reached profitability for the primary time final 12 months.

See also  2 Fintech Stocks That Are Screaming Buys in March

Zepz stated that, with this in thoughts, its focus is on “innovation and steady enchancment for our customers, delivering significant merchandise that make finance extra handy and accessible to migrant communities.”

“To totally realise our mission to unlock the prosperity of cross-border communities, we generally must make powerful choices,” Zepz instructed CNBC.

Zepz has lengthy been touted as an IPO candidate within the U.Okay., however its timeline on reaching that objective is presently unclear. The enterprise was final valued at $5 billion, making it one of many largest and most dear fintech firms in Europe.

You Might Also Like

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

How China’s Companies Are Responding to the US Trade War

The US Flip-flop Over H20 Chip Restrictions 

TAGGED: Billion, fintech, laying, Staff, unicorn, Zepz

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article 2023 ACC/SEC Challenge scores: Duke falls to Arkansas, Georgia beats FSU as leagues’ duel ends in tie
Next Article Radio Broadcaster Shot Dead Inside His Studio In Philippines 4 Moroccan Migrants Found Dead Near Their Boat On Coast Of Spain

Stay Connected

1.30M Followers Like
311 Followers Pin
766 Followers Follow

Latest News

Surprising Benefits of Eating Eggs Everyday for Your Health
Beauty May 10, 2025
Holistic Approaches to Support Your Skin’s Natural Glow
Beauty May 7, 2025
Elevate Your Aesthetic: how to Master the Effortlessly Chic Look
Beauty May 4, 2025
Cambell Kenneford Inspires a New Trans Generation
Beauty May 3, 2025
The Simple Benefits of DIM Supplements
Beauty May 2, 2025
//

This is your World, Finance, Fitness, Fashion  Sports  website. We provide the latest breaking news straight from the News industry.

Quick Link

  • Contact
  • Privacy Policy
  • Terms & Conditions

Top Categories

  • Fashion
  • Finance
  • Fitness
  • Gadgets
  • Travel

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
24x7Report24x7Report
Follow US

© 2023 24x7Report.com - All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?