SAO PAULO/MEXICO CITY (Reuters) – SoftBank-backed Latin American delivery app Rappi has laid off 6% of its workforce, the company said in a statement, without specifying the number of jobs cut.
Rappi said SoftBank Group Corp (T:), which is a major shareholder and has a board seat, was not involved in the layoff decision. Rappi said its management team made the decision, adding the company intends to invest in technology and software professionals focused on the experience of users.
One source close to the company said Rappi still has plans to grow despite the layoffs.
(Rappi corrected to clarify Softbank was not involved in the layoffs decision in second paragraph)
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