🌎 London ∙ 👩 Hundreds of employees ∙ 🖥 Multiple departments
A London-based digital bank, Monzo laid off 120 of its U.K. employees in June and 165 of its Las Vegas employees in April. The company also previously furloughed 295 U.K. employees.
To help its laid-off employees find new roles, Monzo created a talent directory (see link 👇) . It’s not clear whether the directory is meant to cover the company’s previous layoffs, or if there’s been a new round in July. In a LinkedIn post, an employee on Monzo’s talent team alludes to “saying goodbye to some incredibly valued colleagues at Monzo right now.”
As consumers pull back on spending, Monzo generates less revenue from the interchange fees on its debit card products. The company recently raised £60 million at a 40% lower valuation to its prior round last year.
The Monzo layoff list features 24 ex-employees, many of whom are engineers and designers.
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