Nu Holdings Ltd. (NU) Slashes Management Layers, CEO Confirms

Nu Holdings Ltd. (NYSE:NU) has significantly streamlined its organizational structure, cutting its management layers in half to enhance efficiency as the company continues to grow rapidly.

Nu Holdings Ltd. (NU) Slashes Management Layers, CEO Confirms

According to CEO and co-founder David Vélez, the firm had become overly hierarchical, with up to 14 layers of management. The restructuring comes alongside the recent exits of senior leaders Jag Duggal and Youssef Lahrech, though both will continue supporting the company as consultants.

Headquartered in Brazil, Nu provides digital banking services and offers a wide range of financial products across spending, saving, investing, borrowing, and insurance. Velez made the following comment on this recent development:

“There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile, make decisions quickly, and has so much growth ahead. We have reduced those layers effectively in half. And we’ve increased the speed at which we’re moving significantly.”

With over 118 million clients in Brazil, Mexico, and Colombia, Nu Holdings Ltd. (NYSE:NU) is preparing to bring in new C-level executives to support its international expansion. One key addition is former Brazil central bank chief Roberto Campos Neto, who will join as global head of public policy starting July 1.

As part of the changes, some managers have returned to individual contributor roles. However, Vélez emphasized that there have been no layoffs and none are planned. He also clarified that the shift is focused on improving execution and agility, not cutting costs. In fact, products that previously took up to 10 months to roll out are now being launched much faster thanks to the streamlined structure.

NU has surged by over 12% since the start of 2025.

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