Crealogix cuts 10% of its workforce as senior team loses another exec

Around 70 roles are being cut as part of the company-wide restructure.

Digital banking software group Crealogix has announced its executive vice president of Germany has stepped down with immediate effect.

While Volker Weimer, who has led Crealogix’s operations in Germany since 2015, will continue to work for the group as a consultant, Crealogix said succession planning is still in progress for his role.

The news comes just a week after the group announced plans to reorganise, a move that will see it cut around 10 per cent of its workforce.

With around 700 employees worldwide, this will likely account for around 70 roles.

“These measures will accelerate the transition of the group’s business model to becoming a leading SaaS provider of digital banking platforms,” the company said.

Crealogix was already in the midst of change even before Covid-19 struck, with new CEO Oliver Weber appointed in December to take over from Thomas Avedik, and new CFO Daniel Bader taking over in September.

 The group is currently changing its business model towards a software-as-a-service provider, with the group last week saying that its “sales organisation will be doubled” in order to develop its existing and new markets.

Speaking on Weimer’s departure today, CEO Weber thanked him for his five years of contributions to the company and “expressed regret” over his leaving.