Zepz

London-based fintech Zepz, the parent company of WorldRemit, is laying off approximately 200 IT employees, which represents about 20% of its global workforce of 1,000. The layoffs, part of a broader cost-cutting initiative announced in January, affect roles in database administration, development operations, and software engineering. The company cites the completion of its replatforming efforts, enhanced by automation and AI, as reducing the need for certain technical capacities. As part of this restructuring, Zepz is also proposing the closure of its business units in Kenya and Poland, aiming to streamline operations to support its long-term strategic goals and sustainable growth in the competitive digital remittances industry.

Zepz, the British fintech unicorn behind WorldRemit and Sendwave, has laid off 30 employees, affecting less than 2% of its global workforce of around 1,600. This follows a larger round in May, when the company cut 26% of jobs due to role duplication after acquiring Sendwave. Valued at $5 billion, Zepz cites a focus on profitability and innovation amid a slowdown in digital payments, aiming to streamline operations while supporting impacted staff.

Fintech company Zepz, owner of the money transfer brands WorldRemit and Sendwave, is laying off 420 employees, which represents about 26% of its roughly 1,600-person workforce. The London-based firm announced the cuts this week, citing a "workforce optimization" plan to eliminate duplicated roles following the integration of Sendwave and WorldRemit under the single Zepz parent company. The layoffs primarily affect customer care and engineering teams as the company centralizes these operations. CEO Mark Lenhard stated the move is a strategic step to streamline the organization for long-term growth, emphasizing it is driven by structural needs rather than immediate macroeconomic pressures. This marks the second round of layoffs at Zepz in under a year.