Indonesian fintech Flip has cut around 70 to 80 jobs in its latest restructuring, DealStreetAsia reported.

The Flip layoffs affected about 15% of its staff, who numbered roughly 500 before the changes.

According to sources, the cuts were spread across several teams, including operations.

Flip has not said how many employees were affected, and it has not named the teams involved.

In a statement, the company said the changes would give the business a clearer focus. The move would also make its operations more efficient, it added.

Flip said the decision came after it reviewed its priorities. It plans to put more weight on the services that add the most to its business.

At the same time, it will keep working to make its services better, safer and more reliable for users and partners.

Flip said it is aware of how the decision affects the staff who are leaving. Those affected will receive what is due to them under current rules, it added.

Founded in 2015, the company started with transfers between banks. Its range later grew to cover money transfers abroad, bill payments, e-wallet top-ups and payment tools for businesses.

Featured image: Edited by Fintech News Indonesia, based on image by pe_jo via Magnific.