EducationBR

Trybe Layoffs

June 2023

Trybe announced a layoff affecting 128 employees (35% of its workforce) in June 2023. The company operates in the Education sector.

People Affected

128

Percentage

35%

Announced Date

Jun 9, 2023

About

Brazilian edtech startup Trybe laid off 128 employees on Tuesday, June 6, 2023, which represents 35% of its workforce. This is the company's second round of cuts in less than a year, following a previous dismissal of 47 people in August 2022. The company stated the layoffs were necessary to achieve its long-term goals and reach financial breakeven within the next 180 days. Operating in the education technology sector, Trybe, which was valued at R$1.3 billion in a 2021 funding round, offers programming courses with a "success-shared" payment model. The layoffs are part of a broader trend dubbed the "startup winter," where companies are adjusting their strategies amid a tougher investment climate.