Fabric Layoffs
April 2024
Fabric announced a layoff affecting 30 employees (15% of its workforce) in April 2024. The company operates in the Logistics sector.
30
15%
Apr 11, 2024
About
Israeli retail technology startup Fabric is laying off approximately 30 employees, representing about 15% of its 200-person workforce, as announced in April 2024. This marks the company's second significant round of layoffs, following a cut of 150 jobs in July 2022. The decision comes as the company, which provides automated fulfillment solutions combining hardware and software, shifts its business model from selling complete robotic warehouse systems to focusing solely on technology and software sales. Founded in 2015 and having achieved unicorn status with over $1 billion valuation, Fabric has raised $375 million to date. The layoffs follow recent leadership changes, including the appointment of a co-CEO, as the company navigates adjustments in its growth strategy within the competitive retail tech industry.
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