Financial technology company Chime is eliminating approximately 10% of its total workforce, amounting to about 140 positions, according to a source familiar with the matter cited by Reuters on Friday.
The reduction signals continued pressure on digital banking platforms to streamline operations and manage costs amid a competitive landscape.
Microsoft recently announced it is eliminating approximately 4,800 positions, representing about 2% of its global workforce, in a significant cost-cutting initiative.
While the absolute number of jobs is modest compared to larger tech firms, the proportional cut indicates a targeted effort to right-size the organization.
This development follows a broader trend of workforce adjustments across the technology sector.
Microsoft recently announced it is eliminating approximately 4,800 positions, representing about 2% of its global workforce, in a significant cost-cutting initiative.
The scale of Microsoft's restructuring highlights the industry-wide shift toward efficiency as companies navigate economic uncertainties and evolving business models.