Brazilian proptech startup Loft, which was valued at $2.9B last year, lays off 380 employees

Loft, a Brazilian proptech unicorn, has laid off about 380 employees, or 12% of its workforce, the company announced today.
The layoff marks the company’s second round of cuts this year so far. In April, Bloomberg Linea reported that Loft had cut 159 jobs. That would mean that Loft has let go of nearly 540 workers this year so far. It currently has about 3,200 employees.
In an emailed statement, Loft — which says it uses technology to simplify and enable real estate and credit transactions — described the move as “a reorganization of its operation.” It said that the aff

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