Pipe, a US-based embedded capital and financial tools provider for small and medium businesses, has laid off roughly 50% of its 150+ employees as part of a major restructuring aimed at strengthening profitability, operating efficiency, and focus on its core embedded-capital products. The cuts follow a multiyear executive overhaul under CEO Luke Voiles, who has attempted to rebuild leadership after the founders stepped down in 2022. Once valued at $2 billion, Pipe is now slimming its organization despite reporting strong business growth, positioning itself to scale more sustainably amid a more disciplined fintech environment. 

US Fintech Pipe Drastically Reduces Workforce, Reportedly by 50%