The company, which has raised $345 million in funding from the likes of SoftBank Group (9984.T) and was last valued at $1.2 billion, has headquarters in Mexico and Brazil. CEO Sujay Tyle said the total number laid off was around 8-9%, with the company's headcount remaining over 400 employees. He added that those affected were concentrated in projects that were no longer a priority, with plans to refocus on brands generating over $15 million in revenue. "It was a difficult day," Tyle said of the layoffs, adding there were no plans for another series of job cuts. Tyle added that the company had a "quite healthy runway" and was now cash flow positive.

---

Persons: Sujay Tyle, Tyle, Isabel Woodford, Diane Craft Organizations: MEXICO CITY, Reuters, SoftBank, Thomson Locations: MEXICO, Mexico, Brazil, Brazilian, Colombian