RetailIL
Syte Layoffs
July 2022
Syte announced a layoff affecting 13 employees (8% of its workforce) in July 2022. The company operates in the Retail sector.
People Affected
13
Percentage
8%
Announced Date
Jul 5, 2022
About
Israeli AI-powered visual search startup Syte laid off 13 employees in early July 2022, reducing its workforce from approximately 160 people. This cut, affecting around 8% of staff, was part of a broader effort to extend the company's financial runway by two years. The move coincided with an additional cash infusion from existing investors, aimed at sustaining operations until the market recovers from its downturn.
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