Quanto Layoffs

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Brazilian fintech startup Quanto has initiated a major operational restructuring, resulting in a layoff of 85% of its workforce. While the exact number of affected employees is not specified, this drastic cut reflects the company's response to significant market challenges. The decision, announced in a public letter, is part of a broader effort to navigate current adversities while honoring obligations to departing staff with extended health insurance and other benefits. Quanto will continue to support existing clients and maintain its regulatory duties as a Payment Transaction Initiator but has indefinitely halted services for new requests. The company remains committed to the Open Finance ecosystem in Brazil, aiming to democratize access to open data and transform the financial market, despite this substantial downsizing.

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