Amount lays off 18% of staff

Amount lays off 18% of staff

Digital banking technology provider Amount is the latest fintech to trim its workforce, reducing its headcount by 18%, according to TechCrunch.

Amount provides retail banking and point-of-sale technology to clients including Banco Popular, HSBC, Regions Bank and TD Bank, helping them transition to digital financial services.

Last year it hit unicorn status after raising $100 million in Series D funding, some of which was earmarked to accelerate hiring in the company's product, technology and sales groups. At the time, the company employed about 400 people.

In a statement to TechCrunch, CEO Adam Hughes says: "Due to the current macro-economic environment, we have decided to take some proactive adjustments to ensure Amount’s ability to thrive for years to come."

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