Berlin-based fintech startup Kontist has laid off 50 employees, which represents about a quarter of its workforce. The company, which provides banking services for business customers, announced the cuts on May 25, 2022, citing organizational restructuring to focus more on tax advisory services. This move reflects a broader trend in the fintech industry, where investors are increasingly pressuring loss-making tech firms to control costs. Following similar layoffs at companies like Klarna, Kontist's reduction highlights a shift from rapid expansion to greater financial discipline among startups.
