FinanceSG
Funding Societies Layoffs
April 2020
Funding Societies announced a layoff affecting 65 employees (18% of its workforce) in April 2020. The company operates in the Finance sector.
People Affected
65
Percentage
18%
Announced Date
Apr 16, 2020
About
Funding Societies, a Singapore-based fintech company specializing in SME financing, laid off approximately 10% of its workforce in early 2023. This reduction, affecting around 30 employees out of a total of roughly 300, was part of a strategic restructuring to enhance operational efficiency amid challenging global economic conditions. The move reflects broader pressures within the fintech industry as companies adjust to a tighter funding environment and focus on sustainable growth.
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