Tomorrow Layoffs
December 2022
Tomorrow announced a layoff affecting 30 employees (25% of its workforce) in December 2022. The company operates in the Hardware sector.
30
25%
Dec 16, 2022
About
German sustainable fintech startup Tomorrow announced in December 2022 that it is laying off a quarter of its workforce, affecting around 30 of its 120 employees. The company, which operates a smartphone bank focused on green investments, stated the drastic staff cuts are necessary to ensure stability for the remaining team amid a broader fintech crisis. Despite raising millions in funding and introducing customer fees, Tomorrow reported significant losses of over 14 million euros, as it has not yet achieved profitability. The layoffs are part of cost-saving measures to help the company continue pursuing its mission of financing reforestation projects and sustainable funds.
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