Chime Financial is cutting about 10% of its workforce as the fintech reorganizes around smaller teams and productivity gains created by artificial intelligence.

The reductions will affect roughly 150 employees. Chime reported having around 1,500 workers at the end of 2025, according to its annual filing.

Chief Executive Chris Britt told employees that Chime needs to continue adapting as technology changes how companies operate. The restructuring will create flatter management structures and smaller teams while adding capabilities in areas the company considers important for future growth.

Chime also plans to bring more employees back into its offices, arguing that closer collaboration can improve innovation and speed up decision making.

The workforce reduction comes just over a year after Chime completed its initial public offering in June 2025. The company said the changes are intended to support faster growth while maintaining greater operational discipline.

Chime is a financial technology company rather than a bank. It offers banking and payment products through partner institutions, including The Bancorp Bank and Stride Bank.

The company reported 10.2 million active members during the first quarter of 2026, representing growth of 19% from the previous year. Chime is scheduled to report its second quarter results on Aug. 5.

The cuts place Chime alongside a growing group of financial companies using AI adoption as part of broader restructuring efforts.

Visa recently announced plans to eliminate about 2,600 positions, equal to roughly 7% of its workforce, as the payments company seeks greater efficiency and invests in areas including AI. Coinbase also cut about 14% of its staff earlier this year as part of an AI focused restructuring.

Block and Mastercard have also reduced staffing during 2026, reflecting a wider push across the financial technology sector to operate with smaller teams as automation takes over more internal tasks.