Then, in March, around 30 employees were dismissed - the information came to light amid the discovery that there is a non-defamation clause in the neobank’s contracts with employees. At the time, Nubank reported having around 8,000 employees, 2,000 more than at the beginning of 2022. The company laid off around 40 people late in January as it closed its investment business unit. Prior to this Wednesday, Nubank had only fired a few dozen people simultaneously - even amid the high capital costs scenario that the global and Latin American technology ecosystem is going through.

With the new model, some functions and positions became redundant,” Nubank explained. “Now, with a robust portfolio, and after a deep analysis of models and processes, the need to consolidate the product teams in a centralized organization was identified.

In a statement, Nubank says the operations area was divided into independent units focused on individual products, aiming to make the digital bank a multi-product platform. Nubank, the largest digital bank in Latin America with over 80 million customers, announced a “restructuring” of its Brazilian operations sector - “closing” 296 positions this Wednesday morning.

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