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Contxto – Recessions are industry-agnostic things and job cuts continue for all sorts of startups across Latin America. In Brazil, marketplace GetNinjas, fintech Conta Azul, and Indian hospitality startup Oyo’s Brazilian offices have confirmed layoffs.
Brazil hosts the region’s most robust startup ecosystem. So knowing how it’s evolving can offer a glimpse as to what will happen in other countries.
Job layoffs in industries of every shape and size
GetNinjas offers a marketplace where users can find freelance workers like carpenters or plumbers to carry out jobs. Like others we’ve covered before, this startup too had innovated to cope with the pandemic. Earlier this month, it had launched a new feature so users at home could hold video conference calls with the service-provider they needed.
But this perk only came after it announced a 10 percent cut from its approximately 110-person team. So… maybe nine or 10 jobs. But given the numbers for the next couple of startups, GetNinjas fared rather well.
Meanwhile, Conta Azul, a platform that helps small and medium-sized enterprises (SMEs) manage their accounting books reported 140 dismissals. Even though it’s dealing with inner restructurings and dismissals, the startup is looking to help SMEs cope through free online courses and content.
And then there’s SoftBank-backed, Indian-founded, Oyo Rooms. The travel industry has been in a slump due to self-isolation and lockdowns. Consequently, its offices in Brazil are struggling.
In Oyo Brazil’s case, no “official number” has been disclosed. However, according to a report from Estadão, users on social media said job cuts were steep, at approximately 500 employees from its 700-person team.
Wanna hear more? We recommend you listen to the following podcast episode: El aprendizaje del emprendimiento es transferible. You can find the time stamp available in the description.
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