ZestMoney Cuts 30% Staff After PhonePe Deal Fails

The layoffs were announced about a week after PhonePe pulled the plug on its plan to acquire ZestMoney

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ZestMoney’s founders and top leadership informed the employees of the layoffs in a town hall meeting on Thursday

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Despite deciding to not go ahead with the acquisition deal, PhonePe is likely to onboard a sizable chunk of ZestMoney’s workforce, a source said

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While media reports suggest that the company has around 450 employees, its LinkedIn page shows 645 employees

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