Lev Layoffs
December 2022
Lev announced a layoff affecting 30 employees (30% of its workforce) in December 2022. The company operates in the Real Estate sector.
30
30%
Dec 7, 2022
About
Commercial real estate finance startup Lev laid off approximately 30 employees last week, representing less than 30% of its workforce, as part of a broader industry trend. The company, which operates a digital lending platform and had raised significant funding, made these cuts primarily within its sales and operations teams. CEO Yaakov Zar cited over-hiring in anticipation of stronger 2023 growth, which now seems unlikely due to rising interest rates slowing CRE financing. The layoffs occurred in early December 2022, amid widespread cutbacks in both the technology and real estate sectors.
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