Citing economic turbulence, buy now, pay later giant Affirm announced today that it is reducing its staff by 19%, or about 500 employees, and shutting down its crypto unit.
That leaves the company with about 2,000 employees.
In a written statement, Founder and CEO Max Levchin said that he takes “full responsibility for this decision and for those leading up to it.” The company did not specify which departments would be affected by the move.
Moving forward, Levchin said, the company will “refocus” on its core businesses and pace its headcount growth “behind that of revenue.”
He added: “Our goal
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Affirm’s stock plunges as it misses earnings, cuts 500 jobs and shutters crypto unit
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