Printful/Printify merger still on-going
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Latvia Public Media reports, less than a year since Printful and Printify announced their merger, the combination is still ongoing with many details left undecided. Printful, a company providing printing and sewing outsourcing services, became the first Latvian unicorn, and the merger with Printify was seen as logical, according to company officials, since they both had similar technology platforms.
“On both platforms, people can create their own store and order printed clothing. While Printify’s customers are mainly young entrepreneurs who just want to get started and work on these made-to-order platforms, in Printful’s case, they were already large global companies, such as Netflix, which also uses our services,” explained Pārsla Baško.
Baško said that the merger of the companies began last autumn and initially a team of 26 structural units was formed to evaluate customer service, delivery services, change management, communication and other areas.
“The company’s management team was formed from the previous management teams of both companies, and immediately afterwards we announced a reorganisation. Our task was to create one organisation from two. We told the organisational levels one by one, in order to give all employees the opportunity to prove themselves and participate in the creation of the new organisation, but it was also important for us that each manager could put together their own team so that it would be as efficient as possible as quickly as possible,” said Baško.
The new company currently employs approximately 2,500 people in 46 different countries.
“At one point, there were various rumours that there would also be job cuts, at least here in Latvia. Yes, overall we reduced the number of employees by about 20%, and some of them were in Latvia, but there were also employees in other countries,” said the representative.