Refurbished smartphones: Back Market cuts 13% of its workforce

Back Market, the French champion in the sale of remanufactured technology products, is in the process of implementing a plan to reduce its workforce by 13% from its total workforce of 715 employees worldwide, we learned from the company on Monday.

Of the 93 jobs due to be cut, 26 have already been cut at offices in New York, Barcelona and Berlin, according to a Back Market spokeswoman who confirmed the information from Sifted and Les Echos. France is developing a plan to voluntarily lay off 63 posts, the spokesman added.

The Back Market is “going well,” but due to the overall economic context, it should focus more on profitability, the spokesperson said. The company’s goal this year, she said, is to “get closer to profitability” without giving up on growth.

Over 1500 reseller partners

Back Market sells refurbished phones, computers, game consoles or accessories on its website, supplied by specialized companies. It currently claims to have over 1,500 reseller partners. The group is one of the French technology flagships with a presence in 17 countries and a valuation of 5.1 billion euros at the time of the last fundraising (450 million euros) in January 2022.

After years of runaway growth funded by increasingly active fundraising, shareholders are urging start-ups and other tech nuggets around the world to focus more on profitability.

In the United States, many technology companies have announced massive layoffs. For now, Europe remains more secure, with few such announcements.