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.
Job Cuts
News, intelligence and resources on the global fintech industry including topics such as job cuts.
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.
Anchorage Digital to cut 20% of staff as part of “strategic realignment”
Despite a “robust and growing” business, Anchorage says the cuts are a necessary part of a “strategic realignment”.
US regulators shutter New York’s Signature Bank following SVB collapse
Signature Bank is a large lender in the cryptosphere.
Aussie paytech Till Payments lands $46m Series D funding
The fresh funding comes just weeks after the firm’s decision in January to lay off 120 staff.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
Banking Technology Magazine March 2023 issue out now
Cover story: FACE OFF – Confrontation can be a good thing.
Swiss fintech Radicant parts ways with CEO Anders Bally
The fintech’s board dismissed Bally over differences in approach to “leadership and communications”.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Wells Fargo lays off hundreds of its mortgage bankers
The job cuts were made in response to “significant decreases” in mortgage volumes, Wells Fargo says.
African paytech Chipper Cash sheds around a third of its workforce
More than 100 employees at the firm have been affected, Techweez reports.
Cartoon: What recession?
A new cartoon illustrating how private market valuations have been impacted in the current environment.
UK building society Nationwide to cut around 450 jobs
Nationwide confirmed it is cutting around 450 jobs as it looks to “streamline” its non-customer-facing teams.
BNPL fintech Affirm lays off 19% of workforce, nixes crypto offering
The company intends to double down on its core business while “sunsetting” initiatives including Affirm Crypto.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
FIS reportedly axes 2,600 jobs amid ongoing strategic review
Bloomberg reports the cuts have taken place over the past few weeks.
FinTech Futures: Top five stories of the week – 3 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
PayPal to lay off 2,000 staff over the next few weeks
The job cuts will see PayPal reduce its total staff headcount be around 7%.
US lender Upstart to cut 20% of jobs in bid to return to profitability
Upstart is also suspending development of its small business loan product.
FinTech Futures: Top five stories of the week – 27 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Crypto firm Luno lays off 35% of its workforce
Luno’s CEO cites the global economic downturn and the crypto winter as reasons behind the layoffs.
What the FinTech? | S.4 Episode 1 | Bankers like us
In this episode, we’re joined by Leda Glyptis of 10x Banking to chat about her new book – Bankers Like Us.
Capital One lays off 1,100 tech staff
Impacted employees have reportedly been invited to apply for other positions at the firm.
FinTech Futures: Top five stories of the week – 20 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Clearco lays off 30% of workforce, CEO Michele Romanow resigns
Romanow will reportedly transition to the role of executive co-chair and remain on the company’s board.
UK fintech Paddle cuts 8% of workforce
Founder and CEO Christian Owens says the firm is looking to “adapt to what will be leaner times going forward”.
Aussie paytech Till Payments cuts 120 staff
AFR reports the firm has also appointed three new board members and plans to go public.
FinTech Futures: Top five stories of the week – 13 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Crypto.com to cut 20% of workforce citing “unforeseeable industry events”
CEO Kris Marszalek says several factors have led to the decision to let go of around 800 employees.
Wall Street heavyweights BlackRock and Goldman Sachs cut jobs
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
Coinbase to cut 950 jobs and shut down several projects
Coinbase CEO and co-founder Brian Armstrong says he is “still optimistic about our future and the future of crypto”.
Crypto API provider Wyre reportedly shuttering
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
2022: The year of fintech job cuts
FinTech Futures takes a look back at a bruising year of job cuts in fintech.
