Simpl Layoffs

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Simpl, a Bengaluru-based buy-now-pay-later (BNPL) startup, has laid off 30 employees in June 2024, following a larger round of 160 layoffs just a month prior. This recent reduction is part of an ongoing organizational restructuring aimed at achieving profitability by mid-2025. The company, which operates in the fintech and consumer credit industry, also saw the resignation of several senior executives. This follows a significant layoff in April 2023, where about 25% of the workforce, or approximately 150 employees, were let go. Simpl is concurrently rejigging its senior leadership to streamline operations and focus on fiscal prudence amid widening losses, despite reporting a growth in total income.

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