Lyst, a UK-based fashion e-commerce marketplace, is laying off approximately 50 employees, representing 25% of its staff, as part of a restructuring effort to conserve cash flow and move toward profitability. The layoffs, confirmed in November 2022, come after the company raised funding at a $700 million valuation in 2021 and had previously planned for an IPO. The shift reflects broader challenges in the e-commerce sector, where online sales growth has slowed as consumers returned to in-store shopping, prompting the startup to adjust its financial strategy under new CEO Emma McFerran.
