Key facts
- Chime is reducing its workforce by 10%, impacting approximately 140 employees.
- The company cited AI-driven efficiencies and the need for smaller, faster teams.
- CEO Chris Britt stated the move aims to accelerate growth and demonstrate operating discipline.
- This follows a 12% workforce reduction in November 2022.
Fintech company Chime is implementing a 10% reduction in its workforce, which amounts to approximately 140 jobs, according to a source familiar with the situation. CEO and co-founder Chris Britt stated that smaller teams are moving faster and getting more done, enabling the company to accelerate growth while demonstrating operating discipline. This latest round of layoffs follows a similar cut in November 2022, when Chime laid off 12% of its staff, or about 160 employees. At that time, Britt described the earlier cuts as part of a broader strategy to reduce costs and ensure the company's success regardless of market conditions.