Marqeta, a financial technology company specializing in card issuing and payment processing, conducted a workforce reduction in early 2023 as part of a broader restructuring plan. The layoffs affected approximately 100 employees, which represented around 10% of its total workforce at the time. This decision was driven by a strategic shift to improve operational efficiency and reduce costs amid a challenging macroeconomic environment. The move, announced in the first quarter, aligns with the company's efforts to streamline operations and focus on core growth areas within the fintech industry.
