Sezzle cuts staff as it merges with Zip

The announced layoffs, which are across all business operations, will provide $10 million in annual cost savings, Sezzle said.

The Sezzle-Zip deal is the latest consolidation in the hot "buy now, pay later" sector: Zip had previously bought Quadpay, and Block recently closed its acquisition of Afterpay. (The all-stock deal, initially worth $29 billion, ended up being worth less than $15 billion because of the decline in Block’s share price.)

*Source: https://www.protocol.com/fintech/sezzle-zip-layoffs