Layoffs in Portugal

Portuguese AI translation company Unbabel is undergoing a restructuring process that has led to workforce reductions. While the company confirmed the layoffs to Observador without disclosing exact figures, the online platform Teamlyzer reports that approximately 25% of employees, around 66 people, have been affected across all departments. CEO Vasco Pedro cited the rapidly changing tech market and the increasing adoption of AI in translation as key drivers for the restructuring, which aims to adapt the company to market evolution and prepare it for future R&D and growth investment opportunities. This follows a previous layoff in April 2020, when Unbabel cut 35% of its staff, then over 80 out of 250 employees, to ensure business continuity and sustainability.

Feedzai on 2023-01-27.

Monese, a UK-based fintech company, has closed its AltFi news division after a decade of operation, resulting in layoffs for the entire AltFi team. The closure, announced by the company, was driven by severe financial headwinds over the past 18 months, despite strong journalism and brand loyalty. AltFi had been a trusted source covering the fintech industry's growth, including challenger banks and startups. The shutdown reflects broader challenges in the media and fintech sectors, impacting staff who contributed to the platform's community and coverage.

Unbabel laid off 80 employees representing approximately 35% of its workforce on 2020-04-08.