Tech companies laid off more than 450 employees since November

The tech industry is living turbulent times not only locally, but globally, large companies such as Amazon, Meta or Twitter reduced in 2022, one of the most complex years for the sector, its employee base and the shock wave of these measures reached Argentina.

After a growth weather throughout the pandemiccompanies like Lemon Cash, Kavak, Tiendanube, Ualá and Etermax began the wave of local layoffs that has just begun and is shaping up to have a cascading effect since the start of the World Cup Qatar 2022.

according to slogan bloomberg linein the Argentine tech industry they were already goodbyes more than 450 people since mid-November. A fact that marks a change in trend in relation to the previous 10 months, since in that period only the Buenbit crypto exchange I execute mass layoffs.

Why the “tech” world is not in crisis in its entirety

Globally, layoffs in technology companies so far in 2022 reached no less than 150,000 peoplein accordance with Layoffs.fy and quoted by Bloomberg Line.

Nevertheless, Nicholas BaccigalupoCEO of proptech octopusHe has a different look at it. He argues that there is now a new business logic, and many tech companies are responding to it.

Baccigalupo argues that not all the tech sector is in crisis. There are firms that seek to be sustainable by their own operation and yearn to break even and be profitable without relying on external fundswhich, under his gaze, is what has large companies such as Inviu, AnkaLemon, buenbito, Bitso, Muday.

The businessman maintains that the companies that from day zero chose a more sustainable path, with more controlled, sustainable growth and a positive EBITDA They are the ones that are safe from the crisis of the technological sector.

Staff cuts and restructuring: company defects will be achieved by 2023

This means that the external agents that give you economic and financial health to a specific company, there are successive evaluations and rinversion wavesrather, the behavior and performance of the company’s business regardless of the area in which it operates.

“All those companies that today They are not said, they are the ones that are growing and adding value, despite a super-complex world context”, delete in a column written for this medium.

How many workers have the Argentine tech fired?

  • wow: At the beginning of December, the company constituted through its social networks the dismissal of 53 people.
  • lemon cash: Marcelo Cavazzoli, CEO of Lemon Cash, granted to Bloomberg Línea that had to reduce its workforce by 38%.
  • storecloud: In October, the e-commerce unicorn fired 50 people, a figure that represents 50% of the company, alleging “company restructuring.”
  • Kavak: The Mexican company dedicated to the sale of used cars with a guarantee, was another of the companies that recently dismissed part of its staff. In all, he fired 200 of his associates.
  • Etermax: The Argentine company dedicated to the video game industry and recognized for developing “Preguntados” also lost 40 of its collaborators.


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