Online loan broker lays off another 100 employees
As early as August 2022, Smava laid off around ten percent of its workforce. At that time there was talk of more than 100 employees. Now the tense economic situation is apparently forcing the company to take further austerity measures. According to insiders, Smava has initiated the next round of layoffs.
The mass layoffs at the Berlin fintech Smava are entering the next round. After the company laid off around 100 employees in August 2022, another 100 employees now have to leave the company. This is from a report by start-up scene citing insiders.
Smava: Mass layoffs are entering the next round
The reason for the further layoffs is said to be the tense economic situation. In addition, employees from all areas of the company are affected. It is already the second extensive job cuts that Smava has initiated within a few months.
According to reports, around ten percent of the workforce had to leave the company at the end of August. At that time, there was talk of more than 100 people affected out of a total of around 1,000 employees. After the latest developments and layoffs, the company is said to have shrunk to around 700 employees.
Online loans in the billions
Smava was founded in 2005 by Alexander Artopé. Since then, the company has specialized in arranging consumer credit and attracted attention with a lot of advertising. According to its own statements, the comparison portal has already brokered credit in the billions.
For a long time, the company was considered a prime example of a successful and growth-oriented start-up. Almost two years ago, the Berlin fintech took over the position of chief financial officer after its competitors for an estimated 200 million euros. Now the company has apparently gotten into trouble.
Also interesting:
