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Inc42
| 11dSimpl Lays Off Around 100 Employees, Eyes Profitability By Mid 2025
Bengaluru-based fintech startup Simpl has laid off around 100 employees in a recent restructuring exercise. This is the second round of layoffs for the company in the past year. The CEO and co-founder stated that the decision was made to improve operational efficiencies and reduce costs. The company aims to achieve profitability by mid-2025. Impacted employees will receive severance pay of two months and an additional 15 days salary for each year spent at Simpl. The company is also extending medical insurance and outplacement services to affected employees.
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