Revolut employees spoke about the wave of layoffs under pressure

06/05/2020

Karolina Salinger

More than 50 employeesfintech startup Revolut lost their jobs. The company suggested that they either write a letter of resignation by agreement of the parties with the payment of a small compensation, or be fired for unsatisfactory work, according to Wired.

The layoffs affected Revolut employees from Poland and Portugal. According to one of the victims, before that there were no complaints about her work, and she was given half an hour to make a decision.

In addition to the employees dismissed in this way, in Maythe startup has laid off more than 60 more people amid the coronavirus crisis. This does not include the aforementioned workers, as technically they left of their own accord.

Prior to that, Revolut announced a reduction in costs foroutsourcing, and also offered employees to donate part of their salaries in exchange for company shares. This is supposed to help reduce the number of layoffs.

Most of the workers agreed to the proposed scheme with the exchange of wages for shares. One share was valued at $ 121.

Recall that this year Revolut capitalization reached $ 5.5 billion.