FinanceSG
Tonik Layoffs
March 2024
Tonik announced a layoff affecting 0 employees in March 2024. The company operates in the Finance sector.
People Affected
0
Announced Date
Mar 1, 2024
About
Tonik, a digital bank based in the Philippines, laid off approximately 100 employees in early 2024, representing around 20% of its workforce at the time. The fintech company, which operates in the competitive digital banking industry, cited a strategic restructuring aimed at achieving long-term sustainability and optimizing operations amid challenging market conditions. This reduction affected teams across various functions as Tonik sought to streamline its organization and focus on core business priorities.
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