Involves Layoffs
July 2022
Involves announced a layoff affecting 70 employees (18% of its workforce) in July 2022. The company operates in the Retail sector.
70
18%
Jul 13, 2022
About
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.
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