Lokesh Choudhary · · 1 min readXendit slashes workforce in bid for efficiency, growth
Photo credit: Xendit
Indonesia-based Xendit has laid off hundreds of employees as part of its efforts to streamline its business.
“This exercise was difficult, but we found it necessary to align resources with business strategy, optimize the efficiency of our team, and ensure that we are best positioned to pursue new growth opportunities,” Mikiko Steven, the fintech firm’s managing director, said in an official statement.
Tech in Asia has reached out to Xendit for comment.
This marks the second round of job cuts for the company, following a retrenchment in August 2023 that affected a “small number” of employees from its product team.
Xendit provides a payment infrastructure and gateway for businesses in Southeast Asia. The firm has raised US$519.1 million in total disclosed funding so far, according to Tech in Asia data.
Apart from Xendit, other companies that have reduced its workforce in Indonesia this January include Flip and Lazada.
See also: What’s Lazada’s future after hefty job cuts? Insiders tell us
Editing by Miguel Cordon and Eileen C. Ang
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