May 12, 2020 / 3:15 PM / 3 months ago

Brazilian card processor Stone lays off 20% of its workforce, 1,300 employees- statement

SAO PAULO, May 12 (Reuters) - Brazilian card processor StoneCo Ltd on Tuesday is cutting 20% of its workforce, or 1,300 employees, according to a statement signed by its CEO Thiago Piau.

"This year will be very different from what we were anticipating in late 2019. As a nation, we will face difficult times that will affect every Brazilian and business of all sizes," he added.

Reporting by Carolina Mandl Editing by Chizu Nomiyama

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