Melio

Fintech unicorn Melio is laying off approximately 7% of its workforce, affecting about 40 employees primarily based in Israel, as part of an organizational restructuring announced in early March 2024. Prior to the layoffs, the company employed around 650 people globally, with 400 in Israel. This marks the second round of layoffs for the company, though the first in 2022 did not impact its Israeli branch. Management cited that the company's rapid growth—with the Israeli branch expanding from about 90 to over 400 employees in three years—led to inefficiencies in some departments, necessitating this difficult structural change to better align with future goals.

Israeli fintech unicorn Melio laid off 60 employees, primarily from its U.S.-based sales and customer success teams, in August 2022. The company, which had raised $250 million at a $4 billion valuation the previous year, cited a strategic shift in product priorities as the reason for the workforce reduction. While parting with these team members, Melio emphasized its commitment to treating affected employees thoughtfully with severance and support, and stated it would continue hiring for its R&D teams to pursue new strategic opportunities.