Back Market, the French champion in selling revamped tech products, is in the process of implementing an exit plan to reduce its workforce by 13%, out of a total workforce of 715 worldwide, AFP learned from the company. Of the 93 jobs that will be cut, 26 have already been cut in offices in New York, Barcelona and Berlin, according to a Back Market spokeswoman, who has confirmed information from sieved (band financial times) and the echoes. In France, a voluntary departure plan for 63 positions is underway, this spokesman added.
Back Market is “doing well” but must, due to the general economic context, place more emphasis on profitability, this spokesperson said. The company aims this year to “approach profitability” without giving up growth, he said. Back Market sells refurbished telephones, computers, game consoles or accessories on its website, supplied by specialized companies. It now claims over 1,500 partner resellers.
Flagship of French technology
The group is one of the flagships of French technology, with a presence in 17 countries, and a valuation that was estimated at 5.1 billion euros at the time of its last fundraising (450 million euros) in January 2022. After several years of rampant growth, financed by increasingly strong fundraising, startups and other tech nuggets around the world are now being urged by their shareholders to focus more on profitability.
In the United States, many tech companies have announced massive staff reductions. Europe has remained more sheltered for now, with few such announcements. In France, Meero, a photography specialist for internet platforms (fashion and e-commerce), is in the process of cutting around 72 jobs and refocusing his activities on his image processing software suite.
Source: BFM TV
