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Наталя ХандусенкоWork
20 February 2025, 14:07
2025-02-20
IT company Eddy conducted several waves of layoffs and owed payments to laid-off specialists: as the CEO explains
Ukrainian IT product company Eddy has conducted several waves of layoffs, but laid-off employees are still waiting for payments. The company's CEO confirmed this and explained the reason.
Ukrainian IT product company Eddy has conducted several waves of layoffs, but laid-off employees are still waiting for payments. The company's CEO confirmed this and explained the reason.
Eddy, a company with offices in Kyiv and Odessa, develops a distance learning platform called Eddy LMS. Last summer, the company began downsizing in three waves.
This was reported by DOU HR Lead Tetyana Brik, who said that some of the laid-off specialists never received their salaries. UI/UX designer Olena Chernyshova says that 50-60 specialists could have been laid off. Both specialists worked with the company under gig contracts.
“We were laid off according to the principle of ‘whoever came to work last on the team’, and I was one of the last. However, a few days after me, the product owner who fired me was also fired. I also know that in my wave of people, when terminating a gig contract, it was written ‘payment of funds by November 30’. But there was another wave of people who were fired later, — their payment deadline is March 31,” adds Olena.
PHP Developer Nazariy Yuzhin says that he was laid off in October and promised to be paid in November, but this never happened.
"During the layoffs, they promised to pay immediately with the next salary. They paid half, then promised the rest in January. Now they say they don't know when it will happen. Many laid-off specialists also haven't been paid part of their debts. HR told me that there are no extra funds. At the same time, I heard that current employees are being paid their salaries and even have their rates increased," said another former employee, who asked to remain anonymous.
Eddy CEO Ivan Volkov explained in a comment to DOU that the main reason was that the company failed to raise the next round of financing on time. Since the product was free in Ukraine, there are currently no sources of income. Therefore, the company decided to change its focus to the international market.
"For two years, we worked on the funds of the first investment round and negotiated with a number of investors for further financing. However, due to certain market circumstances, we were unable to raise funds in the required time frame. Previously, we provided services to Ukrainian schools for free, counting on monetization through paid functionality for parents. However, the launch of a state-funded free solution, as well as technical difficulties, showed that our monetization strategy was wrong. We fundamentally did not take state funds due to high corruption risks, so a decision was made to exit the Ukrainian school market and find solvent demand abroad. Currently, we are actively working to attract paying customers in international markets. We plan to begin partial repayment of debts in the near future, but currently the company does not have the resources to fully cover all payments," explained Ivan Volkov.
Later, the laid-off employees reported that the company's management had gathered them for a joint online meeting, attended by 48 people. However, no deadlines for repaying the debts were announced.
UPD. Metinvest Digital is likely to undergo reorganization. The company may be merged with MODUS X. Sources do not rule out layoffs, however, both companies are looking for people.
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