Hey, so there’s some news about a big company that just did a major layoff. Apparently, they cut employees from different parts of their operation. And you know what the craziest part is? It’s like 10% of their whole workforce got the boot.
This move came after some changes in regulations for unsecured loans, which caused the company to reevaluate its retail and small-ticket services. Most of the cuts happened in their lending business, which expanded and then shrunk real quick. Now, they’re shifting focus to wealth management and insurance brokering.
The company says they’re planning to save some cash by using AI to do the work of the folks they let go. But they’re also talking about creating a bunch of new jobs in the payment business. Plus, it looks like they let go of a bunch of people in 2021 based on performance, too.
It’s a big deal, man. Lots of people are talking about how this move is gonna have a big impact on the company. Some are even saying that this could be a sign of things to come in the FinTech world, with more companies doing layoffs in the next few years.
So yeah, it’s wild to see this kind of thing happening, but it’s also part of a bigger trend. And it makes you wonder what’s gonna happen next in the world of finance and tech, you know?