Checkout.com to lay off 5% of workforce: Bloomberg
Checkout.com, a digital payments platform, will lay off 5% of its workforce, Bloomberg reported.
The London-based company will lay off approximately 100 people, it said in a statement to Bloomberg. The cuts come at a time when many tech companies are slashing budgets and shrinking staff.
The layoffs will allow the company to focus on “strategic priorities,” a Checkout.com spokesperson told Bloomberg. The company was valued at $40 billion in January.
Checkout.com did not immediately respond to a request for comment. The company’s clients include Blockchain.com, NFT marketplace Tokapi and digital assets wallet Coinhako, according to its website.
The company has doubled down on crypto this year despite the bear market. Last month, Checkout.com was eyeing a new product that would facilitate pay-outs in crypto, and another that would allow online merchants to accept crypto payments. It launched a new stablecoin settlement product in June.
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Author: Stephanie Murray
