PagSeguro Layoffs
January 2023
PagSeguro announced a layoff affecting 0 employees (7% of its workforce) in January 2023. The company operates in the Finance sector.
0
7%
Jan 25, 2023
About
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.
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