Fetch Rewards lays off 10% of its workforce
With consumers cutting back on spending, Madison-based Fetch Rewards, which provides a centralized rewards points program for online and brick-and-mortar sellers, is making cuts of its own, according to a report from PYMNTS.com. The company reportedly laid off about 10% of its workforce, or 100 employees.
The company’s decision to lay off employees follows Apple’s privacy restrictions, which have resulted in rising digital marketing costs. Additionally, a person close to the matter stated that instead of seeking additional funding, the leadership team at Fetch has its sights set on reaching profitability in 2023 with plans of getting acquired or going public.