RetailIL

Karma Layoffs

May 2023

Karma announced a layoff affecting 20 employees (28% of its workforce) in May 2023. The company operates in the Retail sector.

People Affected

Percentage

28%

Announced Date

May 4, 2023

About

Israeli AI shopping startup Karma laid off 20 employees on May 4, 2023, representing 28% of its 70-person workforce. The company, which offers a browser extension and app for automated coupons, cash rewards, and price tracking, cited a strategic shift and market challenges as reasons for the cuts. All affected staff were based in Israel. Founded in 2014 and having raised $34 million, Karma stated the move was part of focusing on its core business from a position of strength and profitability.