Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Research
      • Point Of View
      • Case In Point
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»News»Zepz to lay off 420 employees
    News

    Zepz to lay off 420 employees

    HRK News BureauBy HRK News BureauMay 17, 20232 Mins Read2259 Views
    Share LinkedIn Twitter Facebook
    Tech sector layoffs surpass 80,000 employees in 2024
    Share
    LinkedIn Twitter Facebook

    Fintech unicorn Zepz is implementing a workforce reduction and is going to lay off 26% per cent of its workforce. As per the media sources, the job cuts will majorly happen in its customer care and engineering teams, affecting 420 roles.

    The decision came after the Fintech firm decided to undertake “workforce optimisation” to address duplicated roles resulting from its merger of Sendwave and WorldRemit. Additionally, the company has also started informing the affected employees about the news.

    Mark Lenhard, CEO, Zepz, described the decision as a crucial and essential measure in the company’s transition from two separate and extensive teams to a unified and dynamic organisation under Zepz. He also emphasised how this move will set the ambitious groundwork for their long-term strategic direction as a portfolio business.

    Zepz and Sendwave collectively serve over 11 million users spanning 150 countries. In light of the situation, the affected employees will be provided with assistance in the form of counselling, coaching, career development, CV guidance, and support with job applications.

    In August 2021, Zepz secured funding at a valuation of $5 billion, raising $292 million from a group of investors led by Farallon Capital, a hedge fund. The company was established in 2010 by Ismail Ahmed, a British-Somalian entrepreneur. Although Ahmed stepped down as CEO in 2018, he continues to serve as the non-executive chairman of the board.

    Share. LinkedIn Twitter Facebook
    HRK News Bureau

    Leave A Reply Cancel Reply

    15 + 6 =

    Related Posts

    Accenture to promote 50,000 employees globally, including 15,000 in India

    May 21, 2025

    Blink Charging cuts 20% of workforce to streamline operations

    May 21, 2025

    Odisha government clarifies maternity leave rules for women employees

    May 21, 2025

    Too good to grow? Viral post highlights promotion denial over efficiency

    May 21, 2025

    QUICK HR INSIGHTS

    EDITOR'S PICKS

    The culture that’s quietly killing us

    May 21, 2025

    How ‘snowplow managers’ can stunt your growth

    May 21, 2025

    Three transformative HR roles of the future

    May 20, 2025

    How a German furniture giant in India is building tomorrow’s leaders from within

    May 19, 2025
    Latest Post

    Practo gets new global chief strategy & marketing officer in Shoumyan Biswas

    Movement May 22, 2025

    Practo, the Indian health services platform has appointed Shoumyan Biswas as its new global chief…

    Olive Sen takes on the role of chief business officer- horizontal business unit, OLX India

    Movement May 22, 2025

    OLX India, the online classifieds platform, has appointed Olive Sen as chief business officer –…

    Accenture to promote 50,000 employees globally, including 15,000 in India

    News May 21, 2025

    Accenture is set to promote about 50,000 employees worldwide, by the end of June 2025.…

    Blink Charging cuts 20% of workforce to streamline operations

    News May 21, 2025

    Electric vehicle charging company, Blink Charging has announced a significant workforce reduction as part of…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2025 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.