FinanceNZ

TradeWindow Layoffs

March 2023

TradeWindow announced a layoff affecting 25 employees (30% of its workforce) in March 2023. The company operates in the Finance sector.

People Affected

Percentage

30%

Announced Date

Mar 15, 2023

About

TradeWindow, an NZX-listed trade software company, announced a significant workforce reduction on March 15, 2023, as part of a cost-cutting program. The company is planning to lay off between 25% and 35% of its employees to reduce cash usage to a more sustainable level. This decision comes after a recent capital raise fell far short of expectations, reflecting a challenging funding market for early-stage technology companies in the software-as-a-service (SaaS) industry. The layoffs aim to help the firm navigate its financial difficulties and stabilize operations.