Zepz plans to lay off 26% of its workforce


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Zepz, a money transfer company headquartered in London that combines the former WorldRemit and Sendwave brands, is laying off 420 employees.

With about 1,600 employees overall, Zepz’s workforce has been reduced by about 26% as a result of the cuts. In August 2021, WorldRemit acquired Zepz and raised a final USD 292 million in primary financing at a USD 5 billion valuation. Due to reported accounting problems and internal turbulence in its senior management team, the company postponed plans for an IPO in July of last year.

The company was hoping to go public in the US in the second quarter at a valuation of up to USD 6 billion, but it was forced to postpone those plans while it dealt with “accounting difficulties” in checking and verifying accounts.

Read More: Zepz to lay off 26% of workforce

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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