Layoffs in Brazil

Stone, a Brazilian fintech company known for its card machines, laid off approximately 400 employees in March 2026, representing about 3% of its workforce of 14,000. The mass dismissal, primarily affecting the technology sector, was framed as a restructuring aimed at greater efficiency. The company cited ongoing simplification efforts and advancements in artificial intelligence as contributing factors. This move occurred shortly after the new CEO, Mateus Scherer, took office and followed a period of stock price volatility. The labor union for IT workers in São Paulo condemned the layoffs as anti-union and plans legal action, arguing the company bypassed required negotiations. Stone maintains it was a targeted adjustment with no impact on clients or operations.

MercadoLibre, the Latin American e-commerce giant, laid off 119 employees across the region on January 12, 2026, as part of an automation and restructuring effort. The layoffs, which affected 32 workers in Argentina and 87 in other countries, primarily targeted the content team within the User Experience (UX) department. Former employees allege they were dismissed after having trained the very AI systems that now handle customer and seller support, including via WhatsApp, effectively replacing their functions. The company framed the move as an organizational evolution to create more agile teams by integrating Design and Content areas, stating it does not change its growth strategy and noting it created over 42,000 new jobs in the region in 2025. This incident reflects a broader global trend of workforce reductions linked to AI integration.

On October 10, 2023, Brazilian digital bank Neon conducted a significant layoff, dismissing between 180 and 200 employees, primarily affecting the technology, product, and design departments. The company stated this strategic move was necessary to maintain business sustainability, adjust priorities, and align with a growth cycle focused on operational efficiency. This layoff reflects a broader trend among fintechs and tech companies in Brazil, which had expanded rapidly during the pandemic but are now adjusting to reduced demand and higher interest rates impacting growth-focused firms. Neon offered affected employees extended health benefits, psychological support, and career transition assistance through the end of the year.

MaxMilhas, part of the 123 Milhas group, has laid off 82 employees, representing 18% of its workforce. The layoffs occurred on Monday, September 4, 2023, following the non-renewal of some probationary contracts the previous Friday. The company cited market challenges and the need to discontinue medium and long-term projects as reasons for the cuts. This cost-containment measure follows a crisis at its sister company, 123 Milhas, which also underwent mass layoffs. Operating in the travel and mileage industry in Brazil, MaxMilhas merged with 123 Milhas earlier in 2023, forming one of the sector's largest players. The company stated it is offering support for the affected employees' reemployment.

123Milhas on 2023-08-29.

Brazilian HRTech company Gupy conducted its first layoff since its 2015 founding, reducing its workforce by 8.5%, which equates to 58 employees. The decision, announced on August 2, 2023, was part of a strategic reorganization to integrate its products into a unified ecosystem, moving away from a model with separate business units. This restructuring, following three acquisitions in three years that grew the team by 135%, revealed role overlaps. Leadership emphasized the move was for operational synergy and efficiency, not financial pressure, noting the company's healthy balance sheet and ongoing hiring plans. Gupy operates in the HR technology industry and is scaling its product offerings.

Brazilian edtech startup Trybe laid off 128 employees on Tuesday, June 6, 2023, which represents 35% of its workforce. This is the company's second round of cuts in less than a year, following a previous dismissal of 47 people in August 2022. The company stated the layoffs were necessary to achieve its long-term goals and reach financial breakeven within the next 180 days. Operating in the education technology sector, Trybe, which was valued at R$1.3 billion in a 2021 funding round, offers programming courses with a "success-shared" payment model. The layoffs are part of a broader trend dubbed the "startup winter," where companies are adjusting their strategies amid a tougher investment climate.

Nubank laid off 296 employees on 2023-06-07.

Brazilian fintech startup Quanto has initiated a major operational restructuring, resulting in a layoff of 85% of its workforce. While the exact number of affected employees is not specified, this drastic cut reflects the company's response to significant market challenges. The decision, announced in a public letter, is part of a broader effort to navigate current adversities while honoring obligations to departing staff with extended health insurance and other benefits. Quanto will continue to support existing clients and maintain its regulatory duties as a Payment Transaction Initiator but has indefinitely halted services for new requests. The company remains committed to the Open Finance ecosystem in Brazil, aiming to democratize access to open data and transform the financial market, despite this substantial downsizing.

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.

Ambev Tech laid off 50 employees on 2023-03-02.

iFood laid off 355 employees representing approximately 6% of its workforce on 2023-03-01.

On February 15, 2023, Brazilian digital bank Neon conducted a mass layoff, affecting approximately 210 employees, which represents about 9% of its total workforce. The cuts primarily targeted the technology, product, and agile project teams across all seniority levels. This move comes about a year after Neon achieved unicorn status with a $300 million funding round. The fintech cited necessary adjustments to face macroeconomic challenges and a reprioritization of initiatives as reasons for the layoffs, aligning with a broader trend of workforce reductions in the startup and digital banking sector.

PetLove, a Brazilian pet-focused e-commerce and services platform, laid off 94 employees on Monday, February 13, 2023. This reduction affected over 6% of its workforce, which totaled approximately 1,500 people, and impacted departments including marketing, product design, and software engineering. The company cited a challenging macroeconomic environment as the reason, stating the layoffs were part of a restructuring to integrate business areas, seek synergies, and reallocate investments toward higher-value projects. Having started 23 years ago, PetLove expanded into a subscription model and made several acquisitions, aiming to build a comprehensive online pet ecosystem. The company reported revenues exceeding R$1 billion in 2022 and had previously raised significant funding during the pandemic from investors like SoftBank.

Open Co, a Brazilian fintech company, has laid off at least 26 employees, as indicated by a publicly shared spreadsheet listing affected individuals. The layoffs, which occurred recently, impacted a diverse range of roles across departments including Growth, Tech, People (HR), Marketing, Product, and Compliance. While the exact total workforce and percentage affected are not specified in the provided data, the cuts appear significant and broad-based, reflecting a restructuring effort common in the current economic climate for tech and fintech startups. The list suggests the company is scaling back operations across multiple functions.

C6 Bank, a Brazilian digital bank and fintech, laid off an unspecified number of employees on Monday, February 6, 2023. The layoffs, described by the company as "readjustments" to enhance efficiency and align with business needs, were negotiated with the banking union. While the exact figure was not disclosed, the company, which serves 22.9 million clients and has an estimated workforce of around 4,000, stated it plans to continue hiring throughout the year, aiming to add 800 new professionals by the end of 2023. This move places C6 Bank among other fintechs and tech companies in Brazil that have recently reduced their staff.

Loggi, a Brazilian logistics unicorn startup, has conducted its second round of mass layoffs in about six months, announcing on February 6, 2023, that it is cutting 7% of its workforce. With an estimated 3,500 employees, this reduction affects approximately 300 people. The company stated the move is part of efforts to enhance operational efficiency and focus on strategic initiatives for business sustainability. This follows a previous layoff in August 2022, when 15% of staff were let go. Despite these cuts, Loggi reported growth of over 50% between 2021 and 2022, highlighting its continued expansion in the logistics sector.

In January 2023, Brazilian digital bank Nubank laid off 40 employees as part of a strategic restructuring, specifically closing its investment advisory service. This move followed earlier small-scale adjustments in December 2022. The layoffs occurred amidst criticism over losses in its Nu Reserva Imediata fund, which was marketed as a safe option but suffered due to holdings in troubled retailer Americanas. Despite these cuts, Nubank emphasized it had grown its workforce from 6,000 to 8,000 in 2022 and continued hiring in line with its 2023 business plans. The company stated the advisory service was discontinued after careful evaluation, as it served only a small portion of clients, who retained access to their investments through Nubank's apps and platforms.

Brazilian e-commerce unicorn Olist conducted a second round of mass layoffs on January 30, 2023, citing a need to prepare for a difficult economic year and ensure long-term financial health. While the company, which employs over 1,000 people, did not disclose the exact number or percentage affected, the cuts impacted all areas, including strategic departments like post-sales and technology. The layoffs reflect a broader trend of cost-cutting in the tech startup industry, which is facing pressure from high interest rates and inflation, forcing companies to prioritize efficiency and profitability. Despite the layoffs, Olist's leadership reported strong revenue growth and stated the company has sufficient cash reserves without needing new investor funding this year.

Me Poupe laid off 60 employees representing approximately 50% of its workforce on 2023-01-28.

Brazilian fintech PagSeguro is laying off 7% of its workforce as part of a broader wave of job cuts affecting Latin American technology and financial firms. The company, a major player in Brazil's payments sector, stated the layoffs are a structural adjustment to improve efficiency after years of rapid team growth. This move comes amid a challenging period for fintechs, with PagSeguro's shares having fallen significantly. Contributing factors include new central bank regulations capping interchange fees, which threaten to reduce revenue and profits, alongside a tough economic climate of rising interest rates and market uncertainty. The layoffs were announced in January 2023.

Enjoei, a Brazilian online thrift store startup, laid off 31 employees in January 2023, representing about 10% of its workforce. This mass dismissal came as the company sought to prioritize short and medium-term projects following a difficult period after its late 2020 IPO. Enjoei had seen its market value plummet dramatically throughout 2022. The layoffs primarily affected product, customer experience, and development teams. The company stated the restructuring was aligned with future challenges and projects, aiming to refocus on its core platform serving millions of buyers and sellers.

In January 2023, the Brazilian IDtech unicorn Unico laid off approximately 110 employees, representing about 10.5% of its workforce. The cuts impacted various departments, including product, design, and marketing. The company stated the layoffs were part of a strategic move to enhance operational efficiency and focus on key initiatives aligned with market needs. This followed a smaller round of layoffs in October 2022. Despite the reductions, Unico indicated plans to continue hiring for technology and other key positions. The company offered support to affected employees, including extended health benefits.

Brazilian investment platform XP is undergoing significant workforce adjustments, with layoffs that began in late 2022 continuing into this year. The company, which employs around 7,000 people, could see cuts reaching up to 10% of its staff, translating to roughly 700 employees, though market rumors suggest the number might be closer to 1,000. This restructuring is a response to a difficult economic environment, marking a strategic shift from a prior focus on growth to a new emphasis on efficiency and cost-cutting. The move follows a period of rapid expansion during the pandemic, which the company's leadership now acknowledges included some excesses. As part of the austerity measures, XP is also scaling back on expenditures deemed extravagant, such as certain sponsorships.

In January 2023, PagBank, the digital bank of PagSeguro, conducted a significant layoff, dismissing approximately 7% of its workforce, which equates to about 500 employees out of a total of roughly 7,000. The neobank stated these cuts were aimed at improving company efficiency following a period of team growth, aligning with broader trends seen among technology companies and fintechs globally. The layoffs impacted all areas, with a notable concentration in technology roles such as agile development, product, and UX. This move was part of a series of workforce reductions observed in Brazilian companies at the start of the year.

In January 2023, the Brazilian insurtech startup Pier laid off approximately 111 employees, representing about 39% of its workforce. The cuts impacted various departments, including technology, sales, and human resources. This significant reduction followed a year where the company celebrated over R$100 million in revenue and served more than 120,000 customers. The layoffs occurred amidst a broader wave of job cuts in Brazil's startup sector, despite Pier having secured substantial funding rounds in the preceding years.

Brazilian healthtech company Alice conducted a new round of layoffs on December 8, 2022, dismissing 113 employees, which represents 16% of its total workforce. This cut affected all areas of the company and follows a previous layoff of 63 sales professionals just five months earlier. The company stated the restructuring aims to generate efficiency and adapt to a challenging global macroeconomic environment impacting tech firms. As a prominent startup that had raised a $127 million Series C round, Alice is shifting its strategy from aggressive growth to focusing on product evolution for its 11,000 members, ensuring long-term sustainability despite the difficult decision.

On December 8, 2022, Brazilian mobility startup Buser laid off approximately 160 employees, representing 30% of its total workforce. The company cited the need to adapt to a challenging macroeconomic environment and "the new reality of the market" as primary reasons. Additionally, Buser pointed to slow regulatory progress and selective enforcement actions by authorities, which it claims have created additional operational costs and hindered its collaborative charter bus model. The layoffs, which began that morning, affected all areas of the company equally. This move reflects broader pressures within the startup sector, as Buser, backed by investors like SoftBank, sought to streamline its operations amidst a difficult business and regulatory landscape.

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

Wildlife Studios, the mobile gaming company behind titles like Tennis Clash and Zooba, has laid off nearly 300 employees, primarily from its studios in Brazil and Argentina. This significant reduction, described by staff as "massive," represents a strategic shift as the company cancels all initiatives outside the mobile game space to refocus on core game development. The layoffs, announced recently, affected a wide range of roles including engineering, art, design, and data science. Despite this contraction, Wildlife has been actively expanding through new studio investments in locations like Helsinki and Stockholm, indicating a reallocation of resources within the competitive mobile gaming industry.

On November 10, 2022, Zenvia, a communications technology company, conducted a significant layoff affecting its subsidiary Movidesk, a helpdesk solutions provider it acquired the previous year. Approximately 118 employees were dismissed, primarily from Movidesk, impacting nearly all departments including HR, finance, and controlling. This reduction represented about 9% of Zenvia's total workforce. The layoffs, executed via videoconference, were attributed to redundancies following the acquisition integration, a challenging global economic climate, and cost-cutting measures aimed at preserving cash and improving EBITDA. The move was described as part of a broader restructuring effort within the tech industry.

Kavak on 2022-11-18.

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.

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.

In October 2022, Brazilian IDTech unicorn Unico conducted a workforce restructuring, laying off approximately 50 employees, which represented about 4.4% of its total workforce of over 1,000. The layoffs primarily affected the sales and customer sectors as part of a broader reorganization initiated earlier in the year to consolidate governance and improve team efficiency. Concurrently, the company has been strengthening its technology division, hiring around 50 new employees over the preceding four months, including high-profile executives like former Google engineer Bruno Fonseca as Chief Architect. This shift reflects a strategic realignment to focus on technological development and operational clarity amidst changing market demands.

Hotmart laid off 227 employees representing approximately 12% of its workforce on 2022-10-20.

In September 2022, the Brazilian urban mobility platform 99, a subsidiary of China's Didi Chuxing and the country's first unicorn, laid off over 75 employees, primarily from its customer experience (CX) department. This reduction affected about 2% of its workforce, which totaled around 3,700 employees at the time. The company cited the need to adapt its operational model and customer relationship structure for greater scale and flexibility as the reason for the layoffs, part of a broader trend of workforce adjustments in the tech industry.

In September 2022, Finnish mobility-as-a-service company Maas Global, which had acquired the Brazilian urban mobility startup Quicko just six months prior, announced it was shutting down all operations in Brazil. This closure resulted in the layoff of all employees at the Brazilian headquarters. Following the acquisition, Maas Global had incorporated Quicko's team of over 60 employees. The shutdown of the Quicko app in cities like São Paulo and Rio de Janeiro marked a full exit from the Latin American market. The CEO cited a sudden change in financial markets and an inability to secure sufficient funding as the primary reasons, despite the startup having ambitious growth targets, including aiming for one million users. This pivot led the parent company to focus on partnerships in other regions instead.

2TM laid off 100 employees representing approximately 15% of its workforce on 2022-09-01.

Loja Integrada, a e-commerce platform owned by VTEX, laid off approximately 25 employees in early August 2022, representing about 10% of its workforce of nearly 250. The cuts affected multiple departments, including marketing, content, product, software, and business intelligence. The company stated the layoffs were part of a strategic redirection to improve operational efficiency, involving brand repositioning, new product launches, and outsourcing some activities. While the official reason cited efficiency gains, a former employee suggested the move corrected prior disorganized growth and role overlaps. Despite the layoffs, the company indicated it continues to hire in other areas and provided extended health benefits to those affected.

In August 2022, Brazilian mobile virtual network operator (MVNO) Fluke laid off over 80% of its workforce, reducing its team from 101 employees to just 18, as part of a drastic survival move. The startup, which provides flexible cell phone plans, faced severe cash flow pressures and high operational costs amid a broader market correction. This massive downsizing, which occurred in successive waves through mid-August, contradicted earlier growth plans and statements from CEO Marcos Oliveira about avoiding layoffs. Concurrently, Fluke was in the process of being acquired by a larger telecommunications player. The remaining skeleton crew primarily handles customer service to keep operations running, while the founders actively helped place many of the affected employees in new roles at other companies.

In August 2022, Brazilian fintech Warren conducted a significant layoff, dismissing nearly 50 employees, which represents over 7% of its workforce of more than 700. The cuts primarily targeted the technology sector, including front-end, UX, and data engineering roles, but also extended to administrative, purchasing, marketing, and education departments, with senior leaders like the CMO and education director being affected. The company cited a restructuring and strategic shift as reasons, despite having recently secured a R$300 million Series C funding round. This move aligns with a broader trend of workforce reductions within the fintech industry during that period.

In August 2022, the Brazilian online programming school Trybe laid off 47 employees, representing about 10% of its nearly 500-person workforce. The layoffs, which occurred on August 10th, affected multiple departments including customer success, design, and technology. The edtech startup cited a challenging global technology ecosystem in 2022 as the reason, stating the move was a necessary, though painful, step to ensure long-term goals. The company provided full severance packages and additional financial support to those affected. Founded in 2019, Trybe operates on an income-share agreement model and had raised significant venture capital prior to this restructuring.

On August 9, 2022, Brazilian furniture e-commerce unicorn MadeiraMadeira laid off at least 60 employees, representing approximately 3% of its workforce of over 2,000. The company cited a restructuring aimed at improving efficiency and reprioritizing projects as part of its growth strategy. The layoffs affected areas including product, design, IT, and development. This move occurred amid a broader downturn in the startup ecosystem, influenced by post-pandemic macroeconomic challenges and the war in Ukraine, which led to reduced investment. MadeiraMadeira, backed by SoftBank—which itself reported significant losses—joined other major Brazilian startups in implementing workforce reductions during this period of market adjustment.

On August 8, 2022, Brazilian logistics startup Loggi laid off approximately 15% of its workforce, affecting about 500 employees out of a total of 3,000. The cuts were part of a cost-reduction strategy in response to shifting market conditions, as the revenue boom experienced during the pandemic began to diminish. Layoffs impacted various departments, including technology, design, and recruitment, with the tech hub in Lisbon seeing about 40% of its team (35 people) let go. The company framed the move as an operational efficiency measure to ensure business sustainability. Concurrently, Loggi announced a CEO change, with founders moving to the board. Affected employees received severance benefits, including extended health plan coverage and career transition support.

Brazilian fintech Nomad, which enables digital US bank accounts and investments, has laid off approximately 20% of its workforce, affecting over 50 employees. This reduction comes just three months after the company secured a $32 million funding round that valued it at over R$1 billion. The layoffs, announced by CEO Lucas Vargas in an all-hands meeting on August 3, 2022, were attributed to the global financial crisis impacting the company. Despite recent plans for expansion with a team of around 250, the cuts spanned multiple departments including operations, development, and customer experience. The fintech, launched in 2020, stated this restructuring aims to ensure long-term performance and preserve cash for future opportunities.

In August 2022, Brazilian fintech Hash laid off 58 employees, representing over half of its team and leaving just 52 staff members. This drastic cut followed a previous round of layoffs in June and was driven by a critical financial situation. The company's CEO announced the decision via Slack, revealing that five months of failed fundraising efforts had pushed the startup to a breaking point, forcing it to consider a potential shutdown. Despite raising R$300 million in 2021 and being recognized as a promising fintech, Hash faced challenges with cash management and operational efficiency. The layoffs were a last-ditch effort to maintain minimal operations while the company evaluated final investment options or a closure plan by the end of the month.

Quanto, a Brazilian open finance startup, laid off 28 employees, representing 22% of its workforce, on July 15, 2022. The company cited a challenging macroeconomic environment and the need for business adaptation as reasons for the restructuring. The cuts affected teams in technology, human resources, sales, and the legal department. This move is part of a broader wave of layoffs impacting Brazilian startups that began in April 2022. Quanto, which raised a $15 million Series A round in 2020 from major investors like Bradesco and Itaú, offered an exit benefits package to the departing employees.

Involves, a Brazilian software company specializing in trade marketing management, laid off approximately 70 employees on July 13, 2022, representing about 18% of its workforce. This reduction leaves the company with just over 300 employees. CEO André Krummenauer explained that the layoffs were due to unsustainable capital costs associated with the company's previous leveraged growth strategy, prompting a shift toward capital efficiency. Despite recent revenue growth, the firm found its prior cash strategy unviable in the current financial market. The cuts primarily spared customer service and product teams to minimize client impact. Founded in 2009 and based in Florianópolis, Involves operates in the IT consulting and software industry, with branches in São Paulo, Mexico, and Colombia. This marks the company's second major layoff, following a 2020 reduction of over 80 employees.

Healthtech Alice laid off 63 employees as part of a team restructuring, specifically within its sales department. The layoffs, confirmed by the company, represent a strategic adjustment following a period of significant growth and funding. Affected sales personnel will receive an extra month's salary, extended health coverage for two months, and standard severance packages. Additionally, 20 other employees were reassigned to different roles within the company. Alice, a health management startup offering an alternative to traditional health plans, recently secured $127 million in a Series C funding round in December, bringing its total investment to over $174 million in two years. This move aligns with a broader trend of workforce reductions among major Brazilian startups.