Payward trims roughly 150 roles as it restructures and pursues $20B IPO and acquisitions

Payward, the parent company of crypto exchange Kraken, is laying off roughly 150 employees as part of an optimization and restructuring effort ahead of a planned initial public offering, according to reporting by CoinDesk and summaries elsewhere. The company employs about 3,000 staff globally, and the reductions were described as part of a broader effort to slim operations prior to going public ^{[1] [2]}.

Payward confidentially filed a draft S-1 with the U.S. SEC last November and is seeking fresh funding at a reported $20 billion valuation while ramping up acquisitions as it prepares for a public listing, per CoinDesk and industry coverage. Media outlets say the cuts are intended to present a leaner cost structure and streamline the business in advance of the IPO ^{[1] [3] [4]}.

The staff reductions are being framed by multiple outlets as a strategic move to optimize Payward’s operations and balance sheet ahead of a funding round and potential public listing ^[1].