Brazilian startup Loggi lays off about 15% of workforce, swaps CEO

Reuters
·1 min read

SAO PAULO (Reuters) - Brazilian courier delivery startup Loggi said on Monday it laid off about 15% of its staff and announced that its chief financial officer Thibaud Lecuyer will replace Fabien Mendez as the company's chief executive officer.

Loggi, backed by investors such as Softbank Group Corp and Monashees, is the latest in a string of Latin American startups to cut its workforce in recent months, including payments fintech Ebanx and used-car marketplace Kavak.

The dismissals are "part of a set of measures taken in the last six months to increase operational efficiency to adapt the company to the new global scenario and ensure business sustainability," Loggi said in a statement.

Outgoing CEO Mendez will take over as chairman of the board, the company said.

(Reporting by André Romani; Editing by Alistair Bell)

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • IN CASE YOU MISSED IT: Friends cast to reportedly mark milestone without Matthew Perry

    The former cast members are figuring out how to appropriately mark the upcoming anniversary without co-star Matthew Perry, according to reports by Us Weekly. The series finale of the television sitcom, titled The One Where They Say Goodbye, aired on NBC in the United States on 6 May 2004, when it was watched by 52.5 million viewers. Perry had famously battled drug and alcohol addiction for years, and in his 2022 memoir, he revealed he was taking 55 Vicodin pills a day during the show's heyday.

  • Speaker Mike Johnson booed at Columbia University as he calls for president to quit unless pro-Palestine protests quelled

    Mr Johnson called the protesters ‘antisemitic’ and ‘lawless agitators’

  • Ford Earnings Surprise Wall Street. Auto Giant Maintains 2024 Profit Outlook.

    Ford announced better-than-expected first-quarter earnings even as revenue came in below predictions late Wednesday. The company also revised aspects of its 2024 outlook as its expects losses from its EV segment.

  • ‘Saddened’ by art course cut, Lexington restaurant offers students free food, display space

    “We are truly saddened by the news that Cassidy Elementary has made the decision to cut art from their curriculum,” restaurant officials said in a social media post.

  • Council approves first phase of Burnaby District Energy Utility

    At its meeting on April 15, Burnaby City Council approved the Integrated Project Delivery (IPD) and design for the first phase of the Burnaby District Energy Utility Project. The project, when completed, will aim to generate clean energy from the heat waste created by processes such as waste processing. The first phase will cost $7,606,985, including $362,238 in GST. Council adopted a District Energy policy at its meeting on Sept. 11, 2023. According to a report submitted to council on April 15,

  • Did a Deathbed Confession Lead to Discovery of Remains of Mom and Daughter Who Vanished 24 Years Ago?

    Investigators say an 80-year-old West Virginia man confessed to a double homicide just hours before he died on Monday

  • Satellite images show Iran tried to cover up impact of Israeli missile strike

    Iran replaced a destroyed radar installation within hours of an Israeli strike on an air base last week in an attempt to make it appear as though the damage had been minimal, it has been claimed.

  • Jack Wagner Says He'd 'Absolutely Entertain' a Cameo on “Melrose Place” Revival: 'You Never Really Die on a Soap' (Exclusive)

    The actor also reflected on his time filming the original primetime drama, describing former costar Heather Locklear as "phenomenal"

  • UPDATE 1-US mandates new airline refund rules, fee disclosures

    The U.S. Transportation Department finalized new rules Wednesday requiring upfront disclosure of airline fees and mandates quick cash refunds for canceled flights, as well as for delayed baggage or inoperative services like onboard Wi-Fi. The rules, which were nearly three years in the works, will require airlines and ticket agents to tell consumers upfront about baggage or change and cancellation fees. The department said consumers are expected to save $543 million annually in excess airline fees.

  • College protests live updates: Police move to disperse pro-Palestinian protesters at UT Austin

    Many pro-Palestinian protesters are calling for their colleges to divest of funds from Israeli military operations, while some Jewish students on the campuses have called the protests antisemitic and said they are scared for their safety. The student protests -- some of which have turned into around-the-clock encampments -- have erupted throughout the nation following arrests and student removals at Columbia University in New York City. Students at schools including Yale University, New York University, Harvard University, University of Texas at Austin, University of Southern California and more have launched protests.

  • Several Students Arrested at Massive UT Austin Pro-Palestine Protest

    Timothy A. Clary/AFP via Getty ImagesSeveral pro-Palestinian protesters were arrested by law enforcement on Wednesday at the University of Texas at Austin, as they gathered to oppose Israel’s brutal military campaign in Gaza, with more arrests likely to follow.Local police, alongside state troopers in riot gear, were dispatched to the South Lawn at UT Austin, where hundreds of students gathered to call on the school to cut ties with weapons manufacturers that have continued to arm Israel. At lea

  • S&P/TSX composite down nearly 140 points, U.S. stock markets mixed

    TORONTO — Canada's main stock index erased its gains from the day before asindustrial and telecom stocks weighed on the market, while U.S. markets were mixed. The S&P/TSX composite index closed down 138 points at 21,873.72. In New York, the Dow Jones industrial average was down 42.77 points at 38,460.92.The S&P 500 index was up 1.08 points at 5,071.63, while the Nasdaq composite was up 16.11 points at 15,712.75. The Canadian dollar traded for 72.94 cents US compared with 73.14 cents US on Tuesda

  • Pennsylvania redesigned its mail-in ballot envelopes amid litigation. Some voters still tripped up

    HARRISBURG, Pa. (AP) — A form Pennsylvania voters must complete on the outside of mail-in ballot return envelopes has been redesigned, but that did not prevent some voters from failing to complete it accurately for this week's primary, and some votes will not count as a result, election officials said. The primary was the first use of the revamped form on the back of return envelopes that was unveiled late last year amid litigation over whether ballots are valid when they arrive to be counted in

  • Meta Stock Slides Despite Q1 Earnings, Sales Beat

    Meta stock sank late Wednesday, despite the social media giant behind Facebook and Instagram reported first-quarter earnings and sales that exceeded expectations. The company's revenue guidance came in below expectations while it raised guidance for capital expenditures. Meta Platforms said that it earned $4.71 per share on sales of $36.46 billion for the March-ending quarter.

  • Shoppers 50+ say this neck-firming serum makes 'an amazing difference' — grab it while it's down to $22

    Think less turkey, more swan: 'Tightens those jowls and wrinkles like no other,' says one fan.

  • Check Your $2 Bills — They Could Be Worth a Ton

    If you have a $2 bill burning a hole in your pocket, think twice before spending it at some store. The bill itself might be worth a lot more than two dollars -- enough to build some serious wealth....

  • EU membership on the table as North Macedonia holds first round of presidential vote

    North Macedonia on Wednesday held the first round of a presidential election – the first in a series of votes that could decide whether the Balkan country will join the European Union. It will be followed by a presidential run-off and a parliamentary poll on May 8.President Stevo Pendarovski of the ruling centre-left Social Democrats (SDSM) is in danger of being unseated by Gordana Siljanovska-Davkova, who is backed by the right-wing VMRO-DPMNE.The elections come amid a two-year standoff between

  • Metro expanding loyalty program amid a 'transition year' for the grocery company

    MONTREAL — Metro Inc. is preparing to expand its Moi Rewards program across its Ontario grocery stores later this year after launching last May and garnering more than 2.5 million active members in Quebec. The launch is one of several big changes at the grocer in what president and CEO Eric La Flèche calls a “transition year” for the grocer. The company has completed the bulk of its transition to its new automated fresh and frozen distribution centre in Terrebonne, Que., with just dairy products

  • Biden just signed a bill that could ban TikTok. His campaign plans to stay on the app anyway

    WASHINGTON (AP) — When President Joe Biden showed off his putting during a campaign stop at a public golf course in Michigan last month, the moment was captured on TikTok. Forced inside by a rainstorm, he competed with 13-year-old Hurley “HJ” Coleman IV to make putts on a practice mat. The Coleman family posted video of the proceedings on the app — complete with Biden holing out a putt and the teen knocking his own shot home in response, over the caption, “I had to sink the rebuttal.” The networ

  • Ford Q1 earnings top expectations, sees full-year profit 'tracking to high-end' of guidance

    Ford reported first quarter results after the bell that beat expectations on Wednesday, with its changing product game plan front and center along with its focus on gas and hybrid offerings.