Bunq To Increase The Workforce By More Than 100% In 2024
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Dutch neobank Bung has announced that it will be adding more staff to increase its workforce by more than 70% this year. This is coming when there are job cuts across several firms in the fintech industry.
The firm is tapping into the nomad market as it seeks to expand its operations in the UK and the US. As a result, it’s taking a new strategy to expand its global workforce from 427 to 735 before the end of the year. While Bunq is adding more members to its workforce, companies like Klarna and PayPal are significantly reducing their staff strength as they adjust to the challenging downturn in the market.
Bunq Wants To Establish Itself In The Market
Bunq stated that the new hiring strategy aligns with its ambition of extending its operations in the UK and UK markets as it seeks more clients to stay ahead of the competition. The fintech firm is reportedly seeking licenses in both regions, preparing itself for competition from established firms in the region like Chime, Revolut, and Monzo.
Bunq says it wants to create flexible jobs that attract workers whose goals align with the goal of the company and the working environment it provides. The hiring strategy is tailored for those who have a relationship or align with digital nomads, the firm’s target customers.
The majority of the job roles are for remote workers leveraging technology to do their jobs from anywhere in the world. They are allowed to work anywhere without being tied to one location.
The firm wants to launch a ‘tailored digital nomad’ program that enables users to work remotely wherever they are.
While the firm is enabling employing more remote working staff, it also wants to continue expanding its physical office presence and retain its staff there too.
Bunq Adds More Remote Workers While Other Firms Continue To Downsize
Bunq stated that it will be hiring workers across its network of locations. These include New York, Istanbul, Munich, Sofia, and Amsterdam. This recent hiring strategy is in contrast with other companies in the fintech sector, as the market situation still stagnates. The economic headwind is causing several companies to downsize, cutting off several of their workforce in the process.
Higher interest rates and rising inflation are affecting many of the FinTech firms. Many of them are struggling to maintain the growth they recorded earlier during the boom a few years ago. Klarna, PayPal, and Coinbase have already cut their workforce to a great level as they seek to adjust to the current market trend.
