Chime laid off ~150 employees (10% of workforce) in July 2026, just over a year after its June 2025 Nasdaq IPO at $27/share ($11.6B valuation, down from $25B in 2021). CEO Chris Britt cited AI-driven efficiency and the need for "smaller teams with fewer layers." The cuts targeted technology and operations staff. The layoffs came days before Q2 2026 earnings and amid three federal class-action lawsuits alleging inadequate cybersecurity after an April 2026 data breach and outage.
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Duopoly with Visa faces scrutiny. UK class action settlement. EU investigations. But less targeted than Visa.
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Chime — Antitrust: MIXED Duopoly with Visa faces scrutiny. UK class action settlement. EU investigations. But less targeted than Visa. https://reciepts.tech/stance/407