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

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

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

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

As such, the number of employees impacted by the layoffs could be about 135-190. Inc42 has reached out to ZestMoney for a comment on the issue