Avo Layoffs
May 2022
Avo announced a layoff affecting 500 employees (67% of its workforce) in May 2022. The company operates in the Food sector.
500
67%
May 1, 2022
About
Israeli grocery delivery startup Avo is laying off 500 employees, which represents two-thirds of its global workforce of 750. The layoffs, announced in May 2022, include 350 employees in Israel. This drastic reduction comes after the company failed to raise $70-100 million in funding due to shifting market conditions. Originally focused on delivering groceries to office buildings, Avo expanded to residential deliveries during the COVID-19 pandemic. However, after finding its operations in New York unprofitable and facing a post-pandemic market contraction, the company decided to return to its original business model. Consequently, it is cutting staff across operations and head office roles while seeking a buyer for its home delivery segment.
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