PagSeguro Lays off 500 employees

PagSeguro is an online or mobile payment-based e-commerce service for commercial operations. The company announced Layoff for 500 employees which means around 7% of the workforce from their overall headcount.

As highlighted by the company in a note sent to Startups, the cuts affected all areas of the new bank, and were necessary to improve the company’s efficiency, after a year of continuous growth of the teams. A collaborative worksheet is already circulating on social networks, and so far has about 40 names.

According to information on the PagBank PagSeguro website, which was confirmed by the company, fintech now has around 7,000 employees. With that, in a simple calculation, the 7% of dismissed employees is equivalent to approximately 500 people.

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