Laybuy to cut jobs rather than raise capital

Fri, 29 Jul 2022

Local buy now, pay later firm (BNPL) Laybuy is cutting a third of its staff, mostly in its Auckland headquarters, rather than raising capital in a bid to turn profitable early next year. The ASX-listed provider yesterday said “significant restructuring” will see roughly 45 employees laid off as part of Laybuy's efforts to cut costs after its annual loss widened by almost a quarter to $51.5 million in the March year.Managing director Gary Rohloff said the firm's Australian and New Zealand businesses are profitable, and t...

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