Estonian Eurora lays off more than half of its employees

Estonian tax and customs technology company Eurora lays off 111 employees from all over the world, 80 of them - from the Estonian office. As a result, only 93 employees will continue their work at the company.

The reason for firing half of the team refers to the restructuring of the company. Reducing some of its costs, the company plans to reach a profit next year. The startup will lay off sales teams in Estonia, the USA, and the UK, and focus on the company's product development and sales in Asia and Latin America.

As of the end of August, Eurora owed approximately €589K in taxes. In June 2023, Eurora expanded into the LATAM market and brought on board a new CEO of the Latin America region James Doyle. 

Founded in 2022 by Marko Lastik, Eurora develops an e-commerce suite of customs compliance tools. It simplifies all processes for small and medium-sized enterprises related to cross-border trade and logistics, collecting taxes, and managing payments. Eurora’s platform allows companies to fully automate global trade and compliance processes with AI-based solutions, including HS code allocation, duty & tax calculation, restrictions screening, pan-EU customs clearance, IOSS registration, and VAT services.