Hot mobile payments startup Clinkle hires, and then it fires

After making news with several high-profile hires from Netflix’s(s nflx) ranks, mobile payments startup Clinkle appears to have concluded it’s a bit talent heavy. According to Fortune, Clinkle is laying off 16 employees (about 25 percent of its workforce) from its business operations group. Though Clinkle hasn’t even revealed the details of its new mobile wallet and payments app, it’s attracted a lot of attention, securing a $25 million seed round from Silicon Valley luminaries and hiring veterans like former Netflix CFO Barry McCarthy to its executive roster.