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Fintech company Payoneer announces 200 job cuts four months after selecting a new CEO

Payoneer to layoff 10% workforce, four months after appointing new ceo

Fintech company Payoneer announces 200 job cuts four months after selecting a new CEO

The layoffs wave among startups continues. Payoneer has announced that it will let go of 200 employees, about 10% of its workforce.
The fintech company's announcement comes four months after appointing a new CEO in the company.
The decision would mostly impact positions in the company's marketing and service areas.&nbsp;
Israel, where most of Payoneer's R&amp;D is conducted, is home to about half of the company's 2,000 employees.
Payoneer, a company that was founded in 2005, serves the small- and medium-sized business payments and clearing sector. In June 2021, it went public on Nasdaq through a merger with a SPAC at a value of $3.3 billion. Over a billion dollars were raised by the corporation during this procedure.
In March, the company announced that John Caplan will become the new full-time CEO. &ldquo;The new management announced a new strategy which would focus on large and profitable customers and building a new generation of its payments platform,&rdquo; the report noted, IANS reported. &nbsp; Payoneer is expected to finish 2023 with a growth rate of about 30 per cent, bringing revenues of $810-820 million, as per ET NOW.

According to Zippia data, educational services in the United States shed 136,000 employees between June 2021 and June 2022

After tech, layoffs expected in the education sector, says U.S survey

After tech, layoffs in education sector is predicted

According to Zippia data, educational services in the United States shed 136,000 employees between June 2021 and June 2022

After the tech industry feels the pain of the global economic slump, top chief financial officers (CFOs) in the U.S, have warned about job cuts across the board in the education market over the next six months.&nbsp;
According to Coupa, a Cloud-based platform, in the study of 600 CFOs, 100% of CFOs in the education sector answered with &ldquo;decrease staff&rdquo; for steps they need to take in the next six to twelve months to promote growth in the case of a recession, according to Fox Business.
According to Zippia data, educational services in the United States shed 136,000 employees between June 2021 and June 2022. EdTech layoffs in India&nbsp;
Coming to India, Edtech startups in India have laid off thousands of employees in the past year. Notably, SoftBank-backed Unacademy, Tiger Global-backed Vedantu, and edtech decacorn BYJU'S&mdash;valued at $22 billion&mdash;have all downsized their workforce.
In January this year, edtech startup Unacademy also laid off 20% of employees from its subsidiary, Relevel. The layoffs come amid the ongoing funding winter due to which startups around the world are struggling to extend their runways and raise funding before going profitable.

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