By Brazil Stock Guide – Nubank (BVMF: NUBR33) is under pressure from the São Paulo Bank Workers’ Union after dismissing 12 employees on Friday (Nov. 7), just one day after an internal meeting with CEO David Vélez about the company’s hybrid-work model. The union says the layoffs may have targeted staff who questioned new attendance rules requiring more in-office days.
The “coffee-break”-style meeting gathered roughly 7,000 of Nubank’s 9,500 employees and was held without prior notice to the union. A day earlier, the fintech had informed staff and union leaders that it plans to move to a stricter hybrid model — two days in the office per week by July 2026, and three by January 2027 — up from the current setup that requires just one on-site week per quarter.
Union demands transparency and dialogue
According to complaints received by the union, the dismissals happened soon after the meeting where some employees had voiced criticism of the new rules. “Workers were invited to speak up and then punished with dismissal? We want answers,” said Neiva Ribeiro, the union’s president.
The union said the accounts of dismissed workers differ from the company’s justification and has demanded the immediate suspension of the layoffs. It also reminded that Nubank had pledged to maintain constant dialogue and regular meetings with employee representatives to monitor the rollout of its hybrid-work plan.
Company cites misconduct; employees allege regional bias
Nubank later stated that its internal conduct and compliance unit reviewed the behavior of participants in the meeting and found “elements that justified termination for cause.” The bank added that “many other employees will receive written warnings.”
On internal discussion forums, several employees expressed frustration with the new hybrid-work plan, saying they live far from cities where the bank has offices and were caught off guard by the announcement. Others complained about what they see as a lack of representation of employees from outside Brazil’s Southeast region, claiming the new rules disproportionately affect those who don’t live in São Paulo.
Nubank expands global footprint
In a message to employees, Nubank said it will expand its physical footprint to accommodate more on-site staff. The company currently operates two offices in São Paulo, one in Mexico City, and one in Bogotá (Colombia). It also maintains three “talent hubs” for training and networking in Montevideo (Uruguay), Berlin (Germany), and Durham (U.S.).
The fintech plans to open new offices in Campinas (SP), Belo Horizonte (MG), Rio de Janeiro (RJ), Buenos Aires (Argentina), Washington (U.S.), Miami (U.S.), and Palo Alto (U.S.). According to the company, certain roles will remain remote because they require little or no cross-team interaction — including customer service, investment, compliance, data labeling, financial crime investigation, regulatory solutions, and HR professionals.
Nubank defends open debate, rejects misconduct
In a statement to Metrópoles, Nubank said it “works to preserve open channels and rituals for free debate among employees, but does not tolerate disrespect or violations of conduct.” The company declined to comment on individual dismissals.
The union, meanwhile, maintains that the firings occurred too soon after the meeting to be coincidental and plans to gather testimonies in an upcoming virtual hearing. It continues to demand greater transparency and guarantees that employees can voice opinions without fear of retaliation.
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