Fintech unicorn Zepz to lay off 20% of its global workforce, sources say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 12 2025
0mins
Source: CNBC
Layoffs and Business Closures: British digital remittances company Zepz is laying off around 200 IT workers, which constitutes about 20% of its workforce, while also closing business units in Poland and Kenya as part of a strategic initiative to optimize operations.
Company Transformation and Future Plans: Zepz aims to enhance efficiency through automation and AI, maintaining its commitment to serving migrants globally despite the layoffs, and continues to be viewed as a potential IPO candidate amidst competition from other digital payment platforms.
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Analyst Views on PYPL
Wall Street analysts forecast PYPL stock price to rise
29 Analyst Rating
6 Buy
19 Hold
4 Sell
Hold
Current: 41.260
Low
51.00
Averages
72.86
High
100.00
Current: 41.260
Low
51.00
Averages
72.86
High
100.00
About PYPL
PayPal Holdings, Inc. offers a technology platform. The Company’s products are designed to enable digital payments and simplify commerce experiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, and secure, online or offline, including mobile. It provides consumers with a digital wallet that enables them to send payments to merchants securely using a variety of funding sources, which include a bank account, a PayPal or Venmo account balance, its consumer credit products, a credit card, a debit card, certain cryptocurrencies, or other stored value products. It operates a global, two-sided network at scale that connects consumers and merchants with 434 million active accounts across approximately 200 markets. Its brands include PayPal, Braintree, Venmo, Xoom, Hyperwallet, PayPal Zettle, PayPal Honey, and Paidy. It offers financing products through the PayPal Working Capital (PPWC) and PayPal Business Loan (PPBL).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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