In yet another round of dismissals, Loft dismissed 340 people this morning. The number represents 15% of the company’s 2,200 employees. This is the 4th cut made by proptech in the last 12 months. On December/22, when it made a 12% adjustment, it dismissed 312 out of a staff of 2,600. Adding up all the cuts and the natural departure of people, the downsizing was 1.2 thousand, going from 3.1 thousand to 1.8 thousand in one year.
Layoffs Brasil has already put up a list with the names and contacts of those who entered the cut. “My whole team fell apart. It was just me and one other. The entire B2C operation in Rio and BH is over (sic),” wrote one employee.
In a statement sent to Startups, Loft said that today’s movement is focused on administrative teams or focused on projects with a longer maturation period. “The objective is to adapt the Group’s costs and expenses in a local and global economic context that is more challenging for tech companies than could have been foreseen, ” he said. With the adjustment, Loft says it is “strengthened on its path of growth with sustainability” and that seeks to reach operational breakeven by the end of the year.
