Prezzee Cuts 10% of Staff, CEO Exits
Australian gift card firm Prezzee cuts 10% of its workforce amid plans for ASX listing and global expansion, following its CEO's departure.
November 12, 2023
Australian Company Prezzee Slashes Workforce by 10%
Australian founded gift card company, Prezzee, recently announced a 10% reduction in its workforce. The company, which targets the AU$500 billion global gift card market, of which Australia's share is AU$5.5 billion, had been pursuing a valuation of AU$1 billion along with an ASX listing as part of its growth strategy. Plans also included expanding its workforce to 400.
Executive Changes
In a related development, the company's London-based CEO, Jaimie Samaha, departed last month. Samaha, who joined Prezzee from Mastercard Loyalty in February of the previous year, has moved on to become the CEO of Reward, a UK-based loyalty provider.
