Massive departure plan at the nugget of French tech

Massive departure plan at the nugget of French tech

The French champion in the sale of technological products refurbished is in the process of implementing a departure plan to reduce its workforce by 13%, out of a total of 715 employees worldwide, announces the company. Of the 93 jobs to be cut, 26 have already been in offices in New York, Barcelona and Berlin, according to a spokeswoman for Back Market.

In France, a voluntary departure plan is underway for 63 positions. Back Market is “doing well” but must, due to the general economic context, put more emphasis on profitability, said their spokesperson.

The end of unbridled growth

Back Market sells refurbished telephones, computers, game consoles or accessories on its website, supplied by specialized companies. It now claims more than 1,500 partner resellers.

The group is one of the flagships of French tech, with a presence in 17 countries, and a valuation that was estimated at 5.1 billion euros at the time of its last fundraising in January 2022.

After several years of unbridled growth, financed by increasingly strong fundraising, the start-up and other tech nuggets around the world are now being urged by their shareholders to focus more on profitability.