Fintech unicorn TrueLayer announces plans to cut headcount by 10%

TrueLayer closed a $130 million fundraise led by Tiger Global Management in September 2021. The raise brought TrueLayer’s valuation above $1 billion, providing the startup with “unicorn” status.Staff affected will be invited to a one-to-one meeting with a member of leadership to explain the next steps, according to the blog post.

The exit package will include salary to cover notice periods and an additional number of months based on period of service, three months of employer pension contributions extended access to health insurance and mental health support, the post said. “Our aim throughout is to treat you with the gratitude, dignity, fairness and respect that you deserve,” said Simoneschi in the post.“We are leveraging our network to fast track this process, and have also arranged for opt-in outplacement support including interview preparation, CV review and coaching to be available,” Simoneschi said.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Kari McMahon is a deals reporter at The Block covering startup fundraises, M&A, FinTech and the VC industry. Prior to joining The Block, Kari covered investing and crypto at Insider and worked as a python software developer for several years.

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