Financial technology company TrueLayer has announced plans to cut its headcount by 10 percent.
With the decline in the crypto sector, the market and all related areas entered a difficult process. Companies also changed their strategies in order to survive after their current order was disrupted.
Fintech TrueLayer CEO: “We Are In Tough Market Conditions”
London-based fintech firm TrueLayer plans to cut its headcount by 10 percent, according to a blog post by the company.
Stating that the layoffs were announced at a comprehensive meeting on Thursday, TrueLayer CEO and co-founder Francesco Simoneschi said:
“The layoffs were repeated for transparency to our partners, customers and the wider TrueLayer community. You can understandably ask what has changed in the last twelve months. We now operate in a very different context and in more challenging market conditions.”
Crypto companies like MoonPay and Ramp are collaborating with TrueLayer, which enables companies to leverage the UK’s open banking regulatory framework to enable crypto purchases. Also, TrueLayer’s other clients include Revolut, Freetrade, and Cazoo, according to their website.
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