Pier Layoffs
January 2023
Pier announced a layoff affecting 111 employees (39% of its workforce) in January 2023. The company operates in the Finance sector.
111
39%
Jan 12, 2023
About
In January 2023, the Brazilian insurtech startup Pier laid off approximately 111 employees, representing about 39% of its workforce. The cuts impacted various departments, including technology, sales, and human resources. This significant reduction followed a year where the company celebrated over R$100 million in revenue and served more than 120,000 customers. The layoffs occurred amidst a broader wave of job cuts in Brazil's startup sector, despite Pier having secured substantial funding rounds in the preceding years.
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