Zip did a layoff on 5th April 2022, page-82

ZIP have built the bulk of their smart tech platforms, they have built their customer and merchant base to a large stake in the market.

They have merged various companies.

This mass staff cut was fully overdue and was needed and was fully planned. It is normal to not advertise it excessively, most companies want to hide they are cutting stuff as it is a strategy. I have worked in a top asx50 company, when they performed a mass redundancy for approximately 50% of staff. It is a business strategy.

ZIP definitely don’t need that many staff now.

Time for the cull and to be lean and focus on profitability.

All companies go through this employment cycle for various reasons. If you are saying a mass staff cut is bad then you are saying that most of the top asx50 companies in Australia are awfully crap as well. As they have all done it! It’s a strategy and it’s good business. Not good for the individual being made redundant thats for sure, but as one person said you are basically a tradable commodity in big business.

Time for them to focus on moving to profits now in the longer term and I am glad to see it....and I don’t mean they will be in profit in the next 3 months for those bunnies who will say such short term statements.

I am extremely happy that this mass cut has occurred as it shows ZIP have a strategy and a plan to be very profitable.