Payoneer Layoffs
June 2023
Payoneer announced a layoff affecting 200 employees (10% of its workforce) in June 2023. The company operates in the Finance sector.
200
10%
Jun 26, 2023
About
Payoneer, an Israeli fintech company with a market cap of around $1.7 billion, is laying off 200 employees, constituting approximately 10% of its total workforce of about 2,000. The layoffs, announced in late June 2023, are part of a strategic shift towards profitable growth amid a challenging macroeconomic climate and lower-than-expected transaction volumes on its platform. The cuts, primarily affecting marketing and service departments, follow the appointment of a new CEO four months prior. Payoneer, which provides cross-border payment solutions for small and medium-sized businesses, went public via a SPAC merger in 2021.
Related Events
More Finance Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl