Israeli textile technology company Twine Solutions laid off 30 employees in early January 2023, which represented about one-third of its total workforce. The company, which develops digital, waterless dyeing systems for thread and yarn, cited the need to streamline operations and preserve its activity during a challenging economic period and industry-wide recession. This restructuring followed a $28 million funding round in 2021, bringing its total raised to over $50 million.
