Singapore fintech MoneyHero lays off 80 staff to cut costs

MONEYHERO Group, which runs platforms such as Seedly and SingSaver in Singapore, has laid off 80 employees in a move to cut costs, The Business Times has learned.

The company says on its website that it has over 300 employees in offices across five markets, including Singapore. It has yet to reply to BT’s queries as to where the affected employees are located.

In an e-mail to staff on Wednesday (Jul 24) evening, chief executive Rohith Murthy said that the decision to reduce the size of the “enterprise-wide team” was “unfortunate but necessary”.