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Revolut reportedly fires dozens of employees because of the cost of coronavirus

June 5, 2020

In order to cut costs, the European fintech team Revolut reportedly asked employees to leave the company, according to the employees interviewed by Wired.

“Some of the employees who are said to have been pressured to leave have been stranded in a pandemic in a foreign country without work or health insurance.”describes the author Emiliano Mellino, who collects stories from several Revolut employees. The company reportedly had a large number of employees in different parts of the world, particularly in Kraków, Poland.

The Wired report also states:

“Although the Polish government has extended the residence permit until the end of the ’emergency period’, there is a risk that people outside the European Union will lose their visa after this special provision expires.”

Revolut workers describe suspicious events

Revolut reportedly fires dozens of employees because of the cost of coronavirusRevolut reportedly fires dozens of employees because of the cost of coronavirus

Since the first outbreak of COVID-19, Revolut has asked more than 50 workers in Poland and Portugal to resign.

Just a few weeks after receiving a positive job evaluation, a Revolut employee received an ultimatum and 30 minutes to decide whether to resign or be released.

“Quitting” would mean adhering to a legally binding “mutual agreement” to receive monetary compensation and stick to the story that your departure was your decision.

The coronavirus pandemic has its price

The measures taken to prevent corona viruses were adopted in large numbers in mid-March 2020, which led to business closures and declining economic activity worldwide. After many weeks of quarantine, some regions are trying to reopen their borders and economies. Corona virus downtime has resulted in significant loss, forced layoffs, or business closures.

“It was pretty stressful”, a previously employed employee told Wired. “In my friend’s team, two people were released two hours before their shift [sin previo aviso]””

“Current and former Revolut employees say that the employees were forced to accept layoffs even though the company had no legal reason to lay them off.”Wired noted. Wired added that the company’s $ 5.5 billion financial reduction tactic is just a few months after a $ 500 million capital increase.

Cointelegraph contacted Revolut for further details, but received no response until the date of publication.. This article will be updated accordingly if a response is received.

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