Juni, the Swedish neobank for e-commerce entrpreneurs, is to put off a 3rd of its 217-strong workforce simply months after elevating $206 million in Collection B and enterprise debt funding.
The newest spherical of layoffs come onerous on the heels of a ten% lower in workers two months in the past.
In a LinkedIn submit, co-founders CEO Samir El-Sabini and CTO Anders Orseda contend that the corporate stays in a powerful monetary place, however warning: “The world has modified dramatically previously 12 months. Companies throughout the globe are contending with a looming recession, elevated inflation, unstable inventory markets, and decreased shopper spending. We began 2022 with an aggressive enlargement technique and our hiring technique has mirrored that.”
The agency in June picked up $100 million in Collection B funding and $106 million in enterprise debt financing and introduced plans to rent an additional 60 workers by the tip of the 12 months.
El-Sabini and Orseda insist that Juni stays on a wholesome development trajectory, citing a 100% enhance in transaction volumes over the summer time.
“Our resolution to re-evaluate our organisational construction and operational mannequin is a proactive one which ensures we’re finest positioned to face any problem that this broader macroeconomic context may convey sooner or later,” they are saying. “Our strategic targets stay unchanged.”
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