BNPL startup Simpl undertakes second round of layoffs in less than a month

Simpl, a Buy Now Pay Later (BNPL) startup, reportedly handed out termination notices to approximately 30 more employees, following the layoff of 160 staff less than a month ago. The recent round of layoffs affected individuals across various departments, including senior executives. \r

The company has offered a severance package, providing two months' fixed salary and 15 days' salary for each year of service. Simpl cited organizational efforts to achieve profitability by mid-2025 as the reason for the layoffs, emphasizing the need for operational efficiencies. \r

With no official confirmation of previous layoffs, this round marks the third reported instance. Simpl, founded in 2015, has raised over $80 million and claims a user base of 42 million.