Rapyd Layoffs

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Israeli fintech unicorn Rapyd is laying off approximately 30 employees in Israel, which represents a small portion of its 800-person workforce in the country. The layoffs, announced in June 2024, affect various departments as the company moves these positions to Eastern Europe and South America to reduce operational costs. Rapyd, a global payments platform serving major clients like Adidas and Uber, employs about 1,700 people worldwide. This restructuring follows its $610 million acquisition of PayU GPO last year, which expanded its global reach but now prompts cost-cutting measures.

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