Lyst Layoffs
November 2022
Lyst announced a layoff affecting 50 employees (25% of its workforce) in November 2022. The company operates in the Retail sector.
50
25%
Nov 29, 2022
About
Lyst, a UK-based fashion e-commerce marketplace, is laying off approximately 50 employees, representing 25% of its staff, as part of a restructuring effort to conserve cash flow and move toward profitability. The layoffs, confirmed in November 2022, come after the company raised funding at a $700 million valuation in 2021 and had previously planned for an IPO. The shift reflects broader challenges in the e-commerce sector, where online sales growth has slowed as consumers returned to in-store shopping, prompting the startup to adjust its financial strategy under new CEO Emma McFerran.
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