Riskified Layoffs
February 2024
Riskified announced a layoff affecting 40 employees (6% of its workforce) in February 2024. The company operates in the Retail sector.
40
6%
Feb 13, 2024
About
Israeli fintech company Riskified, which provides ecommerce fraud prevention, is laying off 40 employees, representing 6% of its total workforce of 750. The decision, announced on February 13, 2024, stems from a challenging macroeconomic environment that has led to lower-than-expected growth rates since its 2021 IPO. CEO Eido Gal explained the move as a necessary step to adjust expenses to revenue and accelerate progress toward long-term profitability targets. The layoffs will affect departments unevenly, with human resources and recruitment facing more significant cuts, and involve streamlining management layers and combining some teams. Despite a strong start with a $3.3 billion valuation at its public offering, the company's market cap has since declined to around $860 million amid broader tech sector downturns.
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