ZestMoney Layoffs
April 2023
ZestMoney announced a layoff affecting 100 employees (20% of its workforce) in April 2023. The company operates in the Finance sector.
100
20%
Apr 7, 2023
About
ZestMoney, a Goldman Sachs-backed buy-now-pay-later (BNPL) fintech platform with around 450 employees, is planning significant layoffs across departments following the collapse of its acquisition deal with Walmart-backed PhonePe. The deal fell through in late March 2023, leaving the company in financial distress and forcing it to adopt a survival plan that includes workforce reductions. While the exact number of employees to be laid off is not yet specified, the founders have actively sought outplacement assistance for the impacted staff. The layoffs are a direct consequence of the failed acquisition, which has created an immediate liquidity crisis for the company.
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