The layoffs are part of Remitly’s efforts to streamline operations and reduce costs.
Highlights:
- Remitly is cutting 110 jobs in Israel during a restructuring phase.
- The layoffs aim to streamline operations and reduce expenses.
- This decision comes as the fintech industry faces economic challenges.
Remitly, a major player in the fintech sector, is laying off 110 employees in Israel. This move is part of a broader restructuring plan aimed at improving efficiency and reducing operational costs.
The company has stated that the layoffs reflect ongoing efforts to adapt to the current economic climate affecting the fintech industry.
These job cuts highlight the challenges facing companies within the sector as they navigate a competitive and changing marketplace.
As the economy evolves, Remitly’s actions may set a precedent for other fintech firms to reconsider their workforce and operational strategies.
