Starling Bank cuts 130 jobs to accelerate AI-driven product launches
Starling Bank, based in London, is letting go of 130 employees, about 3% of its team.
The bank says these layoffs are part of a bigger plan to streamline operations and save money, mainly by focusing more on artificial intelligence for faster product launches.
Most cuts will affect overlapping roles, and the company still has more than 4,000 employees.
Starling Bank posts £887m revenue drop
The shake-up follows a rough fiscal year ending March 2026: Starling saw revenue drop by 6% to £887 million and pre-tax profit fall by 3% to £217 million, thanks in part to heavy investment in its digital platform Engine.
CEO Raman Bhatia has mentioned a possible stock market listing but hasn't given any dates yet.
Starling Bank expansion setbacks, £29m fine
Starling mostly serves UK customers (6.2 million strong) but has hit roadblocks with global expansion.
On top of that, it was fined £29 million in 2024 for not having enough controls against financial crime, a reminder that even fintechs have their challenges.