Neon Layoffs
April 2020
Neon announced a layoff affecting 70 employees (10% of its workforce) in April 2020. The company operates in the Finance sector.
70
10%
Apr 13, 2020
About
In April 2020, Brazilian fintech Neon laid off less than 10% of its workforce due to the economic impact of the COVID-19 pandemic. With a total of around 700 employees at the time, this adjustment meant fewer than 70 people were affected. The company, which offers digital banking services and had grown rapidly in 2019, stated that part of the layoffs were performance-related, while another portion was linked to areas directly hit by the crisis, such as services for small and medium-sized businesses. The São Paulo-based startup, backed by significant investments, was among several Brazilian companies forced to make cuts as the coronavirus disrupted economic activities.
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