https://techcrunch.com/2023/10/06/a16z-backed-fintech-synapse-lays-off-40-of-its-staff/

Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company.

The San Francisco-based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth.