Xendit

Indonesian fintech unicorn Xendit has laid off approximately 5% of its workforce in Indonesia and the Philippines as part of a restructuring to support its long-term profitability strategy. The cuts, announced in January 2024, affect an unspecified number of employees from the company's total staff across the two countries. As a major player in the Southeast Asian digital payments industry, Xendit stated this difficult decision was necessary to streamline operations and ensure sustainable growth, following its previous significant funding rounds.

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Xendit, an Indonesian fintech company, has laid off approximately 5% of its workforce, affecting around 100 employees. The decision, announced in early 2023, was attributed to a strategic restructuring aimed at improving operational efficiency and extending the company's financial runway amidst a challenging global economic climate. As a Southeast Asian digital payments and financial infrastructure provider, Xendit stated the move was necessary to better align its resources with long-term growth objectives, despite having previously raised significant funding.