Tech Roundup: Why are unicorns firing so many people?

After growing at astonishing rates, Brazilian unicorns have now begun a wave of layoffs

unicorns 5g biotech startups
Illustration: Kora Sun/Shutterstock

This week: Tech companies’ wave of layoffs hits Brazilian startups. 5G solutions look to generate billions in revenue for the Brazilian economy. Biotechnology grows in Brazil while the use of insecticides falls.

Layoffs at Brazilian tech startups

Less than six months after becoming a unicorn, Brazilian social commerce startup Facily – which works as a digital hypermarket for collective purchases – carried out a series of layoffs. A former employee published a list on LinkedIn of people who were fired.

  • As of Thursday morning, the list was 119 names long. However, up to 400 employees – of which 150...

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