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Thehindubusinessline
| 11dSimpl lays off around 100 employees, eyes profitability by mid 2025
Indian buy-now-pay-later (BNPL) fintech start-up, Simpl, has laid off over 100 employees across different departments in an effort to achieve profitability by 2025, according to sources. The job cuts, which included senior-level employees, were announced by the CEO in a Townhall meeting. The affected employees will receive severance packages that include two months of salary and additional benefits. Simpl had about 650 employees prior to the layoffs and aims to reduce operational costs as part of its profitability journey. This comes after the company laid off over 150 employees due to overstaffing during the pandemic last year.
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