Berlin-based mobile tax app Taxfix has implemented a restructuring effort, resulting in the layoff of 120 employees, which accounts for approximately 20% of its workforce. This move comes after Taxfix acquired a German start-up called Steuerbot, expanded its operations to Italy and Spain, and secured a significant funding round.
Facts
- Taxfix, a Berlin-based mobile tax app, has laid off 120 employees, constituting around 20% of its workforce.
- Taxfix recently acquired Steuerbot, a German start-up offering a chat-based tax app, for an undisclosed sum, aiming to accelerate its expansion in the German market.
- The company has expanded its operations to Italy and Spain, boasting “millions” of app downloads.
- Taxfix raised $220 million in a Series D funding round last year, valuing the company at over $1 billion.
- The layoffs are part of a broader restructuring effort aimed at reducing costs and positioning Taxfix as an independent company for the long term.
- The challenging macroeconomic conditions have affected various companies, including Taxfix and US banking giants JP Morgan Chase and First Citizens, both of which have also conducted layoffs.
