Laybuy operates in New Zealand, Australia and the UK. Taking this action now will place the business in a stronger position for the future.”
“In light of that softness, the company is taking a proactive and prudent approach to this weaker environment by ensuring the business is further right-sized. Managing director Gary Rohloff said the company had experienced a larger than anticipated softening in the retail environment in all three of the markets it operates in due to the tougher economic conditions. Last July it announced plans to cut its headcount by around a third - about 45 staff - mainly from its head office on Auckland’s North Shore. The company said it intends to restructure part of its business in a proposal that will impact around 10 per cent of its workers. Kiwi buy-now-pay-later operator Laybuy is laying off more staff - its second round of redundancies in less than a year - as it strives to reach profitability. Buy-now-pay-later is facing regulation in multiple countries.
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