maaxx.ca

Jakarta –

Companies active in the field of money transfers, Zepz carried out redundancies (PHK) for 420 employees. Indeed, fintech companies are grappling with challenging macroeconomic conditions.

As quoted by CNBC, Wednesday (5/17/2023), this company with offices in London provided information about the layoffs to its employees on Monday. Each member of staff was notified by his line manager before any more important notice.

Zepz, the company behind WorldRemit and Sendwave, has a total of around 1,600 employees. Thus, the number of employees laid off was about 26% of the total number of employees.

The reduction will mainly affect customer service. The Zepz engineering team is working to move these operations from multiple countries to a more centralized hub.

The company is headquartered in London, but the company has regional offices in the United States, Canada, Australia, Hong Kong, Poland, Kenya, and elsewhere.

Zepz said the company is currently optimizing its workforce. In the meantime, this is the second dismissal because in June 2022, Zepz laid off 5% of the employees.

Zepz CEO Mark Lenhard said the company made the decision to cut its workforce because of the need to streamline its structure rather than macroeconomic pressures.

“Over the past year, we have paid close attention to how to optimize the organization to continuously improve at a mature pace that sets the business up for long-term success,” he said. -he declares.

For information, Zepz is a company that allows its users to send money abroad from their smartphone or computer which will be received in bank accounts, cash, mobile wallets, and more.

The service competes with established money transfer companies such as Western Union.

See also video: Google boss’s salary rises after mass layoffs, employees protest

(acd/das)