Startup bank Tandem cuts headcount after funding setback
|05/12/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON — Startup digital bank Tandem has cut its headcount by around 30 people after seeing £29 million ($37.3 million) in funding fall through earlier this year.
A source told Business Insider that Tandem has reduced its staffing levels from around 110 to close to 80. The headcount reduction includes both redundancies and contractors who have not been renewed.
The cutbacks follow the collapse of a significant funding round earlier this year. Tandem announced last December that it had secured a £35 million investment from department store House of Fraser. However, House of Fraser is owned by China’s Sanpower and a read more >>>