Lightricks Layoffs
July 2022
Lightricks announced a layoff affecting 80 employees (12% of its workforce) in July 2022. The company operates in the Consumer sector.
80
12%
Jul 4, 2022
About
Israeli mobile app developer Lightricks, known for its Facetune selfie editing tool, laid off 80 employees on July 4, 2022, with 70 of those cuts occurring in Israel. This represents a 12% reduction of its global workforce, which totals 680 people across Israel, the US, China, and the UK. The company cited the global economic crisis and a need to ensure long-term stability as reasons for the layoffs, expressing concern that its subscription-based apps might be viewed as luxury products during a potential recession. The cuts were broad but focused on marketing and operations, as Lightricks shifts its strategy toward developing tools for content creators and influencers, moving away from reliance on general consumer app store sales. The company is assisting affected employees in finding new jobs.
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