Loft lays off 312 more employees in restructuring

The real estate startup Loft announced this Wednesday (7) the dismissal of another 312 employees from the group, which includes Loft Mexico, Credihome by Loft, CredPago, Vista, 123i and Foxteratua, with operations in Brazil and abroad. Mexico.

According to a statement from the company, the cut corresponds to 12% of the staff of 2,600 employees. The company did not say which areas and positions were affected.

In total, the company laid off 815 workers this year as part of its restructuring plan for the integration of its acquired companies.

“Various processes between the Loft platform and the acquired companies were simplified with the restructuring, generating more synergies between the companies of the group that will provide an increase in operational efficiency and will further enhance our results”, says the company in a note.

Former employees will have an extension of the health plan for the holder and dependents for two months, support for the professional relocation process and facilitation of participation in the stock option plan (option to purchase shares in the company) for eligible people, among others benefits, according to Loft.

The company says the cuts do not affect customer service.

Loft was founded in 2018 in São Paulo, and is supported by investors such as Andreessen Horowitz, Fifth Wall, Thrive Capital, QED Investors and Monashees.

In April, the startup completed the integration process with CrediHome, a real estate credit company that handled BRL 3.43 billion in financing in 2021. At the time, 159 employees were fired, and the company stated that the group’s staff was 6 % higher, even after shutdowns.

In September, the company announced its entry into the home buying and selling market, projecting a jump from the then 80,000 properties listed in its system to over 110,000 by the end of this year.