Portuguese 
English 
Spanish 
2 min of reading 
XP Investimentos, one of the largest investment management firms in the Brazilian market, expects changes in its management policies – which may affect up to 10% of its approximately 7,000 employees. The reorganization starts in 2022, in line with a more sober and profitable business model.
Another measure from XP is to forgo actions that some executives consider extravagant and with low financial return, such as sponsoring events for digital influencers. According to senior manager Guilherme Benchimol, it’s time to “do more with less” – a phrase that is his signature.
What is the reason for the reduction of employees at XP Investimentos? Citing people familiar with the matter, including one of the company’s top executives, XP’s priority is now to seek “growth” and “efficiency,” a strategy that encompasses all areas of the organization. The founder and chairman of XP, Guilherme Benchimol, disclosed the layoffs in a message to the team at the end of the year. In a conference call, the executive argued that the company needed to adjust to the economy. The founders reportedly said during the meeting that now was the time to “sweat and cry” and the need to “do more with less.”
The cuts at XP come after the company went through a period of significant expansion. XP doubled its number of employees during the pandemic. In 2022 alone, the company will employ about 2,500 people in states across the country.
-
Premium Brazilian brand born during the pandemic brings fine cocoa from Bahia to Switzerland, Germany, and France, has won 9 awards, and claims to have the 2nd best milk chocolate in the world: meet Luz Cacau.
-
Júnior Friboi has just purchased one of the largest feedlots in all of Brazil, located in Goiás, with the capacity to produce 180,000 cattle per year, and the manager has already come forward to reassure employees about layoffs.
-
Pharmacy inside the supermarket: what changes now in your purchase, why medicines won’t go on the shelves, which rules remain strict, mandatory pharmacist, separate space, controlled storage, more convenience and competition in the country.
-
Ports like Santos and Paranaguá are operating at their limits and may block containers as early as 2030, warns a study by Macroinfra; bottlenecks increase costs and delays and push cargo to Rio, Salvador, Pecém, and Suape across Brazil.
XP Investimentos Doubled Its Employee Count During the Pandemic
During the pandemic, XP doubled its employee count and made a series of acquisitions to take advantage of the low interest rates and the high cash flow it was experiencing at the time. Today, this situation requires brands to become more efficient. XP’s shares were trading at $53 on the stock exchange in 2021. Today, the value is around US$ 16, close to the company’s low of US$ 13.80.
Get to Know XP Investimentos
XP Investimentos Brokerage for Currency, Securities, and Financial Assets S.A. is a Brazilian brokerage firm. Guilherme Benchimol is the CEO and founder of XP Inc., a company that hosts businesses such as the brokerage firms XP Investimentos, Clear, and Rico. In 2018, Guilherme Benchimol made it to Bloomberg’s list of the 50 most influential people in the world.
Traditionally, a brokerage makes money on each buy and sell of stocks. At XP, each transaction generated at least R$ 2.90. At Clear and Rico, these fees are zeroed. The revenue then comes from the line of credit for investors engaged in day trading, for example.
Seja o primeiro a reagir!