Two months after laying off 12.5%—50 workers, fintech unicorn Chipper Cash is enforcing a second round of layoffs.
Now, the start-up has laid off one-third of its 350 workers—about 100 workers—across different departments.
According to VP of Revenue, Stefano Pardi, who bade farewell to the team in a LinkedIn post, several departments including its HR, product, marketing, legal, and user experience teams were affected.
One source revealed to tech publication TechWeez that some departments lost more than half their staff while others like the startup’s business development department were allegedly almost obliterated, leaving only single employees. The startup’s crypto team has also reportedly been scrapped.
While Chipper Cash is yet to confirm what drove this latest round, one affected employee in a LinkedIn post attributed the layoffs to the economic downfall in the tech industry.
In total, Chipper Cash has raised $337 million in seven funding rounds since its founding in 2017.
