A claim circulating on Threads reported that layoffs are coming from Singapore-based robo-advisor StashAway.
StashAway has since confirmed to Fintech News Singapore that a restructuring did affect roles in its Product and Engineering teams, though the company has not verified the exact number of employees impacted.
According to the post, the cuts affected roughly 20 of StashAway’s approximately 140 employees, with 11 described as engineers and the remainder said to be in HR and other support functions, though management has yet to publicly confirm or deny the cuts.
A StashAway spokesperson has since responded to Fintech News Singapore’s request for comment:
“As a scale-up, we regularly review our operations and growth needs. With the scaling of new technologies, we recently restructured our teams to respond better to the growth initiatives within our focus. As a result, some roles in the Product/Engineering teams were impacted. This year, at group level, our growth remains strong at 40%+ yoy, and we look forward to releasing new products and services to our clients.”
This would not be StashAway’s first round of job cuts.
In June 2022, the company let go of 31 employees, around 14% of its workforce at the time, a move that was confirmed by a spokesperson, though StashAway also said it was continuing to expand its investment team and product line despite the reductions.
Separately, StashAway Malaysia’s long-time Country Manager, Wong Wai Ken, stepped down in May 2026 after nearly eight years with the company.
Wong was StashAway Malaysia’s first employee and had led the business from its initial licensing stage to becoming the country’s largest robo-advisor, with RM1.3 billion in assets under management.
The company has otherwise continued to raise capital, with public funding data showing S$75.3 million secured across seven rounds, including a Series D round in April 2021.
Featured image: Edited by Fintech News Singapore based on an image by alexandrumusuc via Magnific.
