TrueLayer Will Lay Off 10% of its Employees

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Open banking startup TrueLayer has announced it intends to cut headcount by 10%.

According to LinkedIn, TrueLayer has 443 employees, which means that the dismissal will affect about 45 specialists.

The company announced its plans to cut its staff during the general meeting on September 15. Later, the company posted a letter from the co-founder and CEO of the startup, Francesco Simoneschi, “in order to ensure transparency for partners, customers and the general public.”

He has said:

“Because we are focused on the path to profitability, monetization and sustainable growth, it is my responsibility to give the company the maximum amount of time to implement our strategy in the changed economic environment.”

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