FinanceGB

GoCardless Layoffs

June 2023

GoCardless announced a layoff affecting 150 employees (17% of its workforce) in June 2023. The company operates in the Finance sector.

People Affected

150

Percentage

17%

Announced Date

Jun 12, 2023

About

UK fintech unicorn GoCardless laid off approximately 135 employees, representing 15% of its global workforce, in June 2023. The company, valued at $2.1 billion and employing around 800 people after the cuts, made this decision to prioritize profitability and reduce costs amid a challenging economic environment and a funding drought. CEO Hiroki Takeuchi stated the move focuses the business on core areas while scaling back longer-term investments. The layoffs affected roles in the UK, US, Australia, and New Zealand, and the senior leadership team was also reduced by about 25%. This aligns with a broader trend of job cuts in the fintech sector as companies adjust to market pressures.