{"id":67300,"date":"2022-09-16T19:53:14","date_gmt":"2022-09-16T16:53:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67300"},"modified":"2025-09-07T05:53:18","modified_gmt":"2025-09-07T02:53:18","slug":"truelayer-to-cut-headcount-by-10","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/truelayer-to-cut-headcount-by-10\/","title":{"rendered":"TrueLayer to cut headcount by 10%"},"content":{"rendered":"

The open-banking startup TrueLayer will cut staff by 10%, according to the blog<\/a>.<\/p>\n

According to LinkedIn<\/a>, TrueLayer employs 443 people. About 45 employees face layoffs.<\/p>\n

The headcount optimization was announced at a general meeting on 15 September. Later a letter from co-founder and CEO Francesco Simoneschi was posted on the blog, ‘to ensure transparency for partners, clients and the general public’.<\/p>\n

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“As we focus on the path to profitability, monetisation and sustainable growth, I am obliged to give the company as much time as possible to implement our strategy in the changed economic environment,” he emphasised.<\/p>\n<\/blockquote>\n

The startup offers a suite of API<\/span> that enables interbank transfers, bypassing payment networks. Crypto projects use this solution to interact seamlessly with customers.<\/p>\n

The startup will offer laid-off employees a severance package with pension contributions paid over three months and extended access to health insurance.<\/p>\n

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“As we made this difficult decision, we were guided by two key principles: doing what is right for TrueLayer’s long-term success, and treating our employees fairly, with gratitude and respect,” noted Francesco Simoneschi.<\/p>\n<\/blockquote>\n

In April 2021 the project raised $70 million<\/a> from Addition and others. In September \u2014 $130 million<\/a> from Tiger Global and Stripe. TrueLayer’s valuation reached $1 billion.<\/p>\n

Earlier, the headcount optimization was also announced at BitMEX<\/a>, Robinhood<\/a>, Gemini<\/a>, Bitso<\/a> and the parent company of the Brazilian bitcoin exchange Mercado Bitcoin<\/a>.<\/p>\n

Coinbase will cut staff by about 18%, and the crypto-lending platform BlockFi \u2014 by 20%<\/a>.<\/p>\n

In June, Crypto.com CEO Kris Marsalek said he planned to lay off around 260 employees.<\/p>\n

As reported, Bybit<\/a> and Huobi<\/a> are set to cut staff by 30% each, according to media reports.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The open-banking startup TrueLayer will cut staff by 10%, according to a blog post.<\/p>\n","protected":false},"author":1,"featured_media":67301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83],"class_list":["post-67300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67300"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67300\/revisions"}],"predecessor-version":[{"id":67302,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67300\/revisions\/67302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67301"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}