The impact of the startup funding winter has extended to the fintech space with gold loans platform Rupeek saying it has laid off 10-15 percent of its employee base.
Rupeek, the first fintech to layoff employees amid tough marco conditions, has over 1,200 employees and has laid off over 180 people.
In a statement the company said, "With deep regret, we have taken the difficult decision to part ways with 10-15 percent of the employees. The subdued macroeconomic environment has compelled us to re-calibrate our strategy, relook at our costs and make our organisation structure leaner, so as to support our sustenance and growth."
"We acknowledge the selfless contributions made by all the employees who are being impacted and we are committed to supporting them through this transition," the company added.