Brazilian fintech unicorn Dock conducted a mass layoff on November 7, 2022, dismissing 190 employees—160 in Brazil and 30 in Mexico—which represented 12% of its workforce. The company, a payments infrastructure provider valued at over $1.5 billion, cited a failure to meet annual targets and a need to restructure following several acquisitions. The layoffs primarily affected support functions like marketing, HR, and legal operations, as part of a move to eliminate overlaps and increase efficiency. This decision reflects broader challenges in the startup sector, often referred to as the "startup winter," where many tech companies are facing reduced investment and conducting workforce reductions.
