IT company SQUAD announced the layoff of 135 specialists from various departments — 15% of its employees. They will be given financial compensation and the opportunity to buy back their work equipment.
IT company SQUAD announced the layoff of 135 specialists from various departments — 15% of its employees. They will be given financial compensation and the opportunity to buy back their work equipment.
SQUAD told DOU about this. Earlier, rumors appeared that the company was laying off about 10% of employees, many of whom were allegedly only notified today, and the rest were being transferred to short-term contracts.
«This is a difficult but forced decision for us, which is due to the need to adapt to current business realities and strategic plans for 2025. This decision was preceded by a thorough analysis of all possible alternatives, including budget optimization: reducing costs for maintaining office premises in Kyiv and Lviv, closing locations in Uzhhorod, and reviewing the benefits package», — SQUAD said.
The company noted that they are striving to ensure a «smooth transition.» The laid-off specialists will receive financial compensation in the amount of 3 months' salaries, continued health insurance until the end of the first quarter of this year, career counseling, and an option to buy out work equipment.
SQUAD was recently named one of the top three IT employers by DOU. «A huge thank you to our amazing colleagues for their valuable feedback and high ratings, which help us remain one of the best companies in Ukraine for the fourth year in a row», — the company said.
Last week, Delivery Director Natalia Renska announced her decision to leave SQUAD.
«A decision that seemed like just one of many possible scenarios two years ago is now becoming a reality… It has been an incredibly exciting journey, and the decision to end it was not easy for me. But as someone with experience in crisis management, I understand how important it is to step down at the right moment to maintain the stability of the system», — Renska noted on LinkedIn.
