July 31 (Reuters) – Fintech Chime is cutting 10% of its workforce, a source familiar with the matter told Reuters on Friday, joining a growing list of companies using AI-driven efficiencies to streamline operations.
“AI is changing what’s possible but requires new skills,” Chime’s CEO and co-founder Chris Britt wrote in a memo to employees seen by Reuters.
“Smaller teams with fewer layers are moving faster than ever and getting more done,” he said.
The layoffs will affect nearly 150 employees, the source said, requesting anonymity to discuss confidential information. Chime had about 1,500 employees at the end of last year.
(Reporting by Manya Saini in Bengaluru; Editing by Devika Syamnath)
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