Betterfly

Betterfly representing approximately 30% of its workforce on 2023-01-18.

In August 2022, the Chilean corporate benefits unicorn Betterfly laid off approximately 30 employees from its Brazilian operation, representing about 30% of its 100-person local workforce. The layoffs, part of a restructuring, primarily affected the marketing, sales, and Xerpay teams, including the country manager. The company, an HR tech startup valued as a unicorn, faced challenges establishing itself in the local market despite significant investment, including a major funding round and expensive marketing campaigns. Reports indicate the company failed to meet commercial targets, and the layoff process itself was criticized by former employees for being poorly handled, with access revoked before official communication.