The specialist of refurbished announces a reduction in its workforce for 2023.
The management is thus implementing a voluntary departure plan which should lead to a 13% reduction in its workforce.
93 employees will leave
Thus, out of a total of 715 employees, 93 will leave the unicorn specializing in the reconditioning of electronic devices, according to an announcement which was made on Monday, January 2.
26 departures have already been recorded from the company’s offices abroad, in New York, Barcelona and Berlin. The rest, namely 67 positions, will be eliminated in France. According to the spokesperson for the tech company, discussions are already taking place to negotiate these leave takings amicably.
And yet, the company valued at 5.1 billion euros at the time of its last fundraising in January 2022 “ is fine “. She just hears through this plane” approach profitability “, in the words of his spokesperson.
A more demanding environment for tech companies
Back Market must indeed face a more tense environment. Investors are asking French Tech start-ups to increase the period during which they can meet their expenses without requiring refinancing (runway). According to EnglishWeb, many investment funds would have asked the companies in which they took shares to extend their runway from 24 to 36 months. This mechanically forces them to reduce their expenses, and therefore their payroll.
The management of Back Market does not intend to give up growth despite these cuts. The company, which gives a second life to smartphones, computers and other game consoles, present in 17 countries, is thus following the path of the American tech giants. Microsoft, Google, Meta, Twitter or Amazon, all the big names in the sector laid off tens of thousands of people during the fall of 2022. A movement that risks contaminating Europe at the start of the year?
Sources: Release, EnglishWeb
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