Poshmark, a secondhand fashion marketplace based in Redwood City, California, laid off less than 2% of its workforce in late February 2023, just two months after its $1.2 billion acquisition by South Korean internet giant Naver. The cuts primarily affected U.S. employees within the company, which had over 800 staff. The layoffs were attributed to the broader economic slowdown and the company's strategic realignment as it returned to being a private entity. This move reflects a wider trend of cost-cutting and downsizing across the tech and e-commerce sectors during the economic downturn.
