Neon Layoffs
February 2023
Neon announced a layoff affecting 210 employees (9% of its workforce) in February 2023. The company operates in the Finance sector.
210
9%
Feb 15, 2023
About
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.
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