Cashfree Payments laid off 80 employees earlier this week as part of an organisational restructuring exercise. According to the sources, the layoffs have affected 13% of Cashfree Payments’ 900-person workforce.
Cashfree Payments operates a full-stack digital payments solution platform that allows businesses to collect payments as well as provide API banking solutions. However, the company claimed that the layoffs affected only 6-8% of its employees. The layoffs come on the heels of the Reserve Bank of India (RBI) ordering the fintech company to stop accepting new merchants.
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