July 5, 2022

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VTEX, which is listed in the United States, is laying off about 11% of its employees - Money Times

VTEX, which is listed in the United States, is laying off about 11% of its employees – Money Times

The announcement comes amid recent reports and news of other mass layoffs at Brazilian startups (Image: Youtube / Vtex)

Brazilian site Business Digital VTEX It announced on Thursday it would lay off 193 employees.

The company has listed the shares Handbag To us United States.

As the company says in its Form 20-F, this figure represents about 11% of employees – filed with the US Securities and Exchange Commission, SEC – It had 1,727 employees at the end of 2021, including outsourced workers and coaches.

The Company He did not respond to a request for comment.

The announcement comes amid recent reports and news of other mass layoffs at Brazilian startups.

“The decision to cut our staff was made as a strategic decision in which the organizational structure could adjust our priorities and effectively align this growth-oriented cycle,” VTEX said in a statement.

The company has offered its initial offer to help companies implement digital business strategies by setting up online stores. Shares (IPO) In New York Last July.

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