Zip Co lays off US staff
Tom Richardson
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Consumer and business lender Zip Co is thought to have made a round of redundancies in the US this week.
Social media posts suggest a number of Zip’s US staff were made redundant on Monday as the consumer lender cuts costs in an attempt to convince investors it has a path to profitability.
Zip Co shares are down 81.6 per cent over the past year. The company has been contacted for comment.
Zip’s move follows the decisions of its merger target Sezzle to make 20 per cent of its US workforce redundant.
Buy now, pay later player Openpay is also thought to have laid off staff in Australia and the UK in 2022.
Zip did a layoff on 5th April 2022, page-29
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