KoinWorks, an Indonesian fintech lending platform, laid off approximately 30 employees in early 2023 as part of a strategic restructuring to enhance operational efficiency. The layoffs affected around 10% of its workforce, which totaled about 300 employees at the time. This move was driven by challenging market conditions and a need to streamline operations amid broader economic pressures in the fintech industry. The company, which operates in the peer-to-peer lending sector, aimed to refocus its resources on core business areas to ensure sustainable growth.
