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Is the startup party over? Wave of layoffs at Latin America unicorns continues in Brazil and Mexico

RIO DE JANEIRO, BRAZIL - Brazilian company Vtex (VTEX) has laid off nearly 200 employees, according to a person familiar with the company. That number represents 13% of the team, the person said.

According to the company, in Mexico, crypto platform Bitso has laid off at least 80 employees in technical and commercial roles and confirmed by former employees.

The e-commerce software company and the Mexican cryptocurrency startup are two other companies that added to the layoffs of dozens of PayPal employees on Thursday as the tech stock melted on the exchanges.

Vtex went public on the New York Stock . . .

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