Expense management fintech Pleo has laid off around 50 employees across engineering and data roles, with cuts affecting Denmark, the UK, and Germany. The layoffs primarily hit senior staff within the company's 300-person "offering" team, which covers product, technology, design and data functions.

These cuts follow a pattern of workforce reductions at the Copenhagen-based startup. Pleo previously laid off roughly 100 commercial team members in November and cut 15% of its workforce in 2022. A company spokesperson framed the latest moves as part of "significant transformation" aimed at strengthening focus and accelerating product delivery.

The unicorn status achieved in 2021 through a $150m funding round at a $1.7bn valuation now contrasts with ongoing restructuring. Pleo became Denmark's eighth unicorn while reaching the milestone faster than predecessors. Despite previous assurances that AI wouldn't replace junior engineers, the company continues trimming technical roles.

These successive layoffs suggest Pleo faces pressure to streamline operations amid evolving market conditions for expense management solutions. The repeated workforce reductions indicate challenges in maintaining growth trajectory despite achieving unicorn status relatively quickly.