Portuguese Feedzai reduced its workforce.

Source: Pixabay.com

Some of the company’s employees were laid off as part of the implementation of the business restructuring strategy. This concept of activity is used by the firm to counter the challenges that are associated with the global economic downturn.

So far, there is no information about how many employees of the company have been laid off. It is known that as a result of the application of the method of reducing the workforce in order to maintain economic stability, layoffs affected representatives of the company in several countries of the world.

The dismissals were carried out in the period from January 9 to January 13. Employees who lost their jobs due to a reduction in the workforce were informed by the company’s management that due to the restructuring, their positions are no longer necessary.

A month ago, Feedzai CEO Nuno Sebastiao, during a corporate-wide meeting, announced a stable state of affairs and separately noted that employees should not be afraid of layoffs, since the company’s performance is at a high level.

Feedzai’s last fundraiser took place in March 2021. Then the $200 million Series D round valued the company at more than $1 billion. At the beginning of 2022, the firm reported that its annual regular income increased by 40%, and increased the number of staff by more than 40%. Before the reduction of the workforce, the company had about 600 employees. Feedzai offices are located in 18 countries.

Last year, the company implemented a policy of maximum mutual understanding. In October, employees were given the opportunity to go on vacation due to mental health problems, menopause, and menstruation.

The restructuring of Feedzai is not unusual. Now technology companies are in a difficult position because of investors who, against the backdrop of the deteriorating global economic situation, demand to cut costs and demonstrate viability.

As we have reported earlier, Google to Cut 12,000 Jobs.