Fintech Company Amount Cuts 18% of Staff

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

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.

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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.

​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."

(Source: Finextra)