With this move, Blomfield takes part in the process of clearing the path for the new CEO TS Anil and moving into the role of President.
Last week, we reported on Revolut forcing some staff to leave their jobs without severance - citing underperformance or making them quit on their own accord for just a slice of severance. Since Revolut has not really addressed the issue publically so far, let's take a look at how has the CEO addressed it in messages he sent to his employees.
Some Revolut staff members claim that they have been pressured into leaving their jobs and taking salary cuts as the company applied cost-saving measures.
Monzo, the U.K. challenger bank, will cut up to 120 jobs as a result of the coronavirus pandemic.
The digital bank unicorn Revolut has announced to lay-off 60 of its employees as it admits the COVID-19 has some negative impact already.
London and Tallinn-based startup Monese is set to make staffing cuts and lower its ambitions for a funding round.
The coronavirus crisis has already made senior executives from Monzo, Lloyds and Revolut to slice down their own personal income.
12Page 1 of 2
The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.
As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.