US fintech company Chime is laying off around 10 per cent of its workforce, as it restructures its operations to adapt to the growing use of artificial intelligence (AI) across the business.
The job cuts will affect nearly 150 employees, reducing the company’s workforce from around 1,500 people employed at the end of last year. The move is part of a broader organisational overhaul aimed at improving efficiency and accelerating growth.
In an internal memo to employees, Chime’s leadership said AI is changing the way work is organised and increasing the need for new skills. The company also plans to simplify its organisational structure by creating smaller teams and reducing management layers to enable faster decision-making.
The restructuring comes as companies across the financial-services sector increasingly rely on AI to improve productivity and optimise costs after making significant investments in the technology.
Chime joins a growing list of financial and fintech firms that have announced workforce reductions this year. Companies including Block, Visa, Robinhood and Mastercard have also undertaken layoffs or restructuring initiatives as they seek to improve operational efficiency while expanding AI capabilities.
Founded as a digital-first financial-services platform, Chime has emerged as a major challenger to traditional banks by offering app-based banking services with lower fees and simplified customer experiences.
The company, which went public in June 2025, is expected to announce its second-quarter financial results next week. Its shares have declined around 10 per cent so far this year.
The latest workforce reduction reflects a wider trend across corporate America, where organisations are redesigning teams and investing in AI-driven automation to enhance productivity while maintaining profitability.
