In November 2022, Brazilian mobile game developer Tapps Games laid off approximately 10 employees, representing about 12.5% of its workforce of over 80 people. The layoffs were part of a broader trend affecting the Brazilian tech and gaming industry, driven by economic pressures and a cautious investment climate. Venture capital firms, including Sequoia Capital, had advised portfolio startups to preserve cash amid market volatility and geopolitical tensions like the Ukraine war. As one of Brazil's largest game developers, Tapps Games' cuts reflect the challenging environment for companies in the mobile gaming and broader tech sectors during that period.
