In January 2024, Ualá had laid off 140 employees (9% of its workforce at the time), arguing the need to restructure to 'optimize operations due to duplication of positions following recent acquisitions.' These acquisitions include Wilobank in Argentina (Eduardo Eurnekian's digital bank) and ABC Capital in Mexico, which allowed Ualá to obtain banking licenses in both countries. Affected workers were offered 'severance agreements that exceed legal requirements.' This is not the first time the fintech has made such an adjustment. In a move that contrasts with the climate of victory for the ruling party, the fintech Ualá, founded by libertarian entrepreneur Pierpaolo Barbieri, announced a new round of layoffs affecting 110 employees in Argentina. After Milei's victory, Falabella returns to selling in Argentina, and two appliances are liquidated for $49,990. According to what Noticias Argentinas learned, the measure is part of a regional adjustment that also includes 25 layoffs in other company offices abroad. In total, the downsizing represents 8% of the company's total workforce. Ualá confirmed to Clarín that the decision was made 'in search of greater regional efficiency and due to the automation of tasks,' with the goal of achieving 'a better position in an increasingly dynamic and competitive market.' The company, led by Barbieri, stated that this is a single round of cuts and denied that there will be new waves of layoffs.
