Loft

In March 2023, Brazilian proptech company Loft conducted its fourth round of layoffs in a year, dismissing 340 employees, which represented 15% of its then 2,200-person workforce. The company stated this move was to adjust costs and expenses in response to a challenging economic environment for tech firms, aiming to achieve operational break-even by year's end. This round primarily affected administrative teams and projects with longer maturation timelines. Over the preceding year, including natural attrition, Loft had reduced its headcount from approximately 3,100 to 1,800 employees. The layoffs were part of a broader trend of restructuring within the tech startup sector.

Loft laid off 312 employees representing approximately 12% of its workforce on 2022-12-07.

Brazilian proptech unicorn Loft conducted its second round of layoffs in July 2022, cutting 384 employees, which represents 12% of its then 3,200-strong workforce. This follows an earlier dismissal of 159 staff in April, attributed to the integration of CrediHome. The company cited a strategic shift towards increased efficiency after four years of aggressive growth, both organic and through acquisitions. This move reflects a broader "winter" for startups, particularly high-growth, cash-burning unicorns, as rising interest rates and market volatility force cost-cutting measures and down-rounds. Loft offered affected employees extended health benefits and outplacement support.

Loft laid off 159 employees on 2022-04-19.

In April 2020, Brazilian real estate rental startup QuintoAndar laid off approximately 8% of its workforce, affecting around 88 employees out of a pre-crisis total of 1,100. The layoffs, which occurred across all areas of the company, were a direct response to the COVID-19 pandemic, which led to a projected decline in demand for residential rental and property sales. As a unicorn valued at over $1 billion, QuintoAndar stated the restructuring was necessary to adapt operations to the new market context and ensure the company could meet its commitments. The affected employees received a comprehensive benefits package, including extended health coverage and support services. This move was part of a broader wave of layoffs across Brazilian startups and tech companies during the early stages of the pandemic.

Brazilian real estate startup Loft laid off approximately 380 employees in April 2022, representing about 12% of its workforce at the time. The company, which operates a digital platform for buying and selling residential properties, cited a strategic restructuring and a need to adapt to a shifting global economic landscape as reasons for the workforce reduction. This move was part of a broader trend of cost-cutting and operational adjustments within the tech and proptech sectors during that period.