According to multiple reports, Chipper Cash has laid off more than 100 employees after initially laying off 13% of its workforce last December.
This latest round of layoffs has reportedly affected employees including engineering leadership, engineers, technical program managers, analysts, and IT staff.
Reports also state the fintech company has scrapped its crypto department, effectively laying off all employees in the department.
In 2021, the company raised $150 million in a Series C round which was led by Sam Bankman-Fried, former CEO of the cryptocurrency exchange platform. Many have suggested that the fallout from the FTX saga is to blame for most of the recent firings.
Source: Tech Trends KE
