Faire

Wholesale marketplace Faire has laid off 20% of its staff, or about 250 people, as part of a restructuring to better align teams with its long-term vision. This marks the company's second round of known cuts in just over a year, following a 7% layoff in October 2022 when it had about 1,200 employees.

Faire, a wholesale marketplace tech company valued at $12.5 billion, laid off approximately 250 employees on November 1, 2023, as part of a company-wide restructuring. This marks the second round of layoffs in just over a year, following a 7% reduction in October 2022 when the company had around 1,200 employees. The cuts affected teams in engineering, product, design, and data science. Faire cited the need to realign its organizational structure with its long-term vision, noting that previous rapid hiring had created management layers that were no longer sustainable after slowing recruitment. The company, which has raised over $1.4 billion since its 2017 founding and recently partnered with Shopify, operates in the e-commerce and wholesale industry, serving as a platform connecting independent brands with retailers.