Fintech adds to the list of cuts in startups, ranking of cities to work and what matters in the market

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Wave of layoffs hits Ebanx

The wave of layoffs in the largest Brazilian startups is not over yet. This Tuesday (21), it was the turn of fintech Ebanx to warn 340 employees that will be shut down—part immediately, part within the next six months.

The contingent represents approx. 20% of the company’s total employees.

Ebanx: Founded in 2012, in Curitiba, it provides international payment services in Latin America for giants such as Spotify, AliExpress, Airbnb, Uber, Shein, among others. In 2019, it became a unicorn (startups valued at over $1 billion).

• The company had been taking advantage of the scenario of recent years of high liquidity in the markets to expand. It received a contribution of US$ 430 million (R$ 2.2 billion) from Advent and disbursed more than BRL 1.2 billion to buy Remessa Online in 2021.

What has changed? The tide of optimism about tech companies turned when the Fed indicated an aggressive hike in US rates to ease inflation.

• A representative of the sector in the country says he sees the wave of layoffs concentrated in the biggest startups, without reaching with the same force those that are in the initial stage.

Ebanx said that terminated employees will receive additional amounts, health plan extension and work computer, and that the decision was made due to the adverse macroeconomic scenario.

other unicorns with operations in Brazil cited the same challenge as a justification for recent layoffs. This list includes Mercado Bitcoin, Kavak, Vtex, QuintoAndar, Loft and Facily.

A BBC News Brasil report shows how in some of these cases the dismissal was made through a video statement to groups of dozens of workers, who say they feel disrespected by the way they were warned of the dismissal.

Where is the best work-life balance?

What are the best cities to maintain a balance between work and social life? That’s what a study by cloud technology company Kisi tries to answer.

Of the 100 cities surveyed, São Paulo, which is the only Brazilian one, is in the 96th placing.

Understand: The study mapped more than 130 indicators from 51 US cities and 49 other cities around the world considered important economic centers. It split into:

• work intensity – remote work, overworked population, vacation days etc.

• Society and institutions – Covid impact, access to mental health, inclusion and tolerance.

• coexistence in City – accessibility, culture and leisure options, safety, air quality, among others.

Truck driver assistance and gas voucher

The government decided, in agreement with the presidents of the Chamber and the Senate, to expand the Auxílio Gás and create aid for truck drivers in response to the rise in fuel prices.

This was the alternative found to not change the State-owned Companies Law, a proposal rejected by Minister Paulo Guedes (Economy).

How the measurements are drawn:

• diesel voucher: the idea is to contemplate between 700 thousand and 900 thousand self-employed truck drivers, with a value that revolves around BRL 400 per month. The government is still studying a design for the measure not to go against the electoral law.

It’s this or that: with these measures, the economic team hopes to alleviate the pressure coming from Congress to change the State-Owned Companies Law, a way of shielding these companies from political interference (see here).

How is the appointment at Petrobras going? The committee responsible for the analysis of names at the top of the state-owned company should meet on Friday (24) to issue an opinion on the appointment of Caio Paes de Andrade.

• The government’s idea is for the board of directors to review and approve the choice early next week.

More about Petrobras and fuels:

Tariff flags get more expensive

Aneel announced this Tuesday readjustments of up to 64% in the tariff flags charged on the electricity bill to pay for the use of thermal plants. The new values ​​take effect in July.

Yes, but calm down: the expectation of sector agents is that this increase in the electricity bill should not be triggered this year.

• The explanation lies in the level of the hydroelectric reservoirs, which reached 74.4% on Monday (20), which allows the green flag to be in effect – without extra charge.

• Last year, when the country came to flirt with energy rationing, the level of reservoirs in the Southeast and Midwest regions – the water tank for the electricity sector – at the end of June was 29.1%; today is in 66%.

The new values:

• yellow flag: will have readjustment of 59.4% and it will cost BRL 2,989 for every 100 kWh (kilowatt hours) consumed.

• Red flag level 1: rise 63.8%for BRL 6.50.

• Red flag level 2: increases 3.2%for BRL 9,795.

what explains: Aneel justified the increase by the cost of activating the thermal plants, which are more expensive because they use fossil fuels, such as natural gas or diesel oil.

more about energy:

Eletrobras’ contribution will reduce readjustments from Cemig, Copel, RGE Sul and Energisa MG.