FinanceIN

Rupeek Layoffs

June 2022

Rupeek announced a layoff affecting 180 employees (15% of its workforce) in June 2022. The company operates in the Finance sector.

People Affected

180

Percentage

15%

Announced Date

Jun 7, 2022

About

Gold loan fintech platform Rupeek laid off over 180 employees in June 2022, representing 10-15% of its workforce of over 1,200. The company cited a subdued macroeconomic environment and the need to recalibrate strategy, reduce costs, and create a leaner organization to ensure sustenance and growth. This move marked one of the first significant layoffs in the fintech sector amid a challenging funding winter. Despite reporting strong growth and a $1 billion annual disbursement run rate, Rupeek undertook this restructuring to align its workforce with revised strategic plans, acknowledging the difficulty of the decision while committing to support affected employees.