Estonian startup Scoro laid off 9% of its employees

Estonian platform Scoro, which develops job management software, laid off 9% of employees in Estonia, the U.S., and the U.K. at the end of 2022. The company explains it with the economic slump in the world. Scoro management decided to optimize its sales efforts and decrease the team's size in November 2022. 

Moreover, compared to London and Denver offices, the least number of redundant positions was in Estonia: 6,5 positions out of 100. Redundant employees received comprehensive advice, support in compiling a CV and motivation letter, and, also, a letter of recommendation for finding a new job. 

Among Scoro's investors are Estonian investment company Tera Ventures, Latvian venture firm Livonian Partners, Finnish fund Inventure (which focuses on investment in startups from Nordic and Baltic regions), and Estonian fund SmartCap. The startup has raised $23,5M in three rounds of investments.

Scoro was founded by Estonian entrepreneurs Fred Krieger, Priit Matiisen, and Kristina Lilleõis in 2013. It develops work management software for agencies, consultancies, and professional services firms.