2023-07-14 17:28:12
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ivy file a collective dismissal. The company has informed its staff that it will carry out a new staff cut that will affect more than 10% of the staff, some 170 workers.
As detailed by the firm to Global Time.news, the reason for this adjustment is that the startup, which has not yet made a profit in any financial year, wants to leave behind the “hypergrowth” model to move towards “sustainable growth”. In other words, from now on profitability will be prioritized over raising capital.
A deficit expansion
Collective dismissal is one of the measurements that are part of the company’s plan to get out of the red numbers this year in Spain. In the international market, it expects to reach profitability by the end of 2024.
The losses are mainly due to the high investment in research and development, for example of new vegetable proteinsas well as its rapid international expansion that the previous phase has required, which is now considered to be over.
It will automate processes
Heura, who billed 31.4 million euros in 2022, recalled that the reduction in the workforce “occurs in a context marked by inflation and rising costs throughout the value chain”. It has been decided “after studying the implications of the change in model and focuses on the positions that are oversized in the new business plan”.
In addition to the layoffs, the firm will change its policy of internationalization to enter new markets more effectively and will centralize communication and services. In addition, it will rationalize the assortment of products and will automate processes to reduce costs.
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