Mercos, a Brazilian technology company, has laid off 51 employees, representing 40% of its workforce, in March 2020 due to the severe economic impact of the COVID-19 pandemic. The layoffs reduced the team from approximately 125 total employees to 74. The company, which had achieved break-even and strong growth in 2019, faced an abrupt downturn as the global health crisis unfolded, leading to this difficult decision to ensure financial stability. This event marked a significant challenge for the firm, which highly values its company culture.
