San Francisco, California-based Chime, a financial technology company that partners with regional banks to design and host financial services, has announced a reduction in force as part of its cost containment strategy.
The personnel realignment will impact approximately 12% of the workforce or about 160 employees.
A spokesperson noted, "To ensure the long-term success of the business and as we look at current market dynamics, we are focusing our organization to be fully aligned with our company priorities. The changes will help, but we also need to adjust the size of our organization as we increase our focus and forge our path to profitability.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?