Swiss fintech startup Numbrs announced a major restructuring on May 7, 2020, after a previously secured funding round unexpectedly collapsed. The company plans to lay off up to 62 employees at its Zurich headquarters, which represents nearly 50% of its total workforce. This drastic measure is part of a cost-cutting program aimed at reducing fixed costs by half to ensure the company's survival, particularly in the challenging environment of the COVID-19 pandemic. Numbrs, which operates a banking app, will shift its focus from user growth to realizing new revenue opportunities and optimizing its cost structure, while assuring that the app will remain functional.
