Pagaya Layoffs
June 2024
Pagaya announced a layoff affecting 100 employees (20% of its workforce) in June 2024. The company operates in the Finance sector.
100
20%
Jun 5, 2024
About
Fintech company Pagaya is laying off 100 employees, representing about 20% of its 540-person global workforce, with most cuts affecting its Israeli operations. This second round of layoffs in a year and a half, following 140 job cuts in early 2023, is part of a continued reduction of the company's presence in Israel. Despite reporting positive financial results for Q1 2024, the Nasdaq-traded firm, which specializes in AI-driven loan underwriting, is restructuring across all departments and management levels. The move aligns with a broader trend of cost-cutting and operational consolidation, potentially influenced by the ongoing regional situation.
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