FinanceUS

Marqeta Layoffs

May 2023

Marqeta announced a layoff affecting 0 employees (15% of its workforce) in May 2023. The company operates in the Finance sector.

People Affected

Percentage

15%

Announced Date

May 9, 2023

About

Marqeta, a financial technology company specializing in card issuing and payment processing, conducted a workforce reduction in early 2023 as part of a broader restructuring plan. The layoffs affected approximately 100 employees, which represented around 10% of its total workforce at the time. This decision was driven by a strategic shift to improve operational efficiency and reduce costs amid a challenging macroeconomic environment. The move, announced in the first quarter, aligns with the company's efforts to streamline operations and focus on core growth areas within the fintech industry.