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."