OtherIL

Torii Layoffs

June 2023

Torii announced a layoff affecting 28 employees (30% of its workforce) in June 2023. The company operates in the Other sector.

People Affected

Percentage

30%

Announced Date

Jun 29, 2023

About

Israeli SaaS management startup Torii is laying off 28 employees, representing about 30% of its total team of 95, as announced in late June 2023. The company, which raised a $50 million Series B round in early 2022, cited macroeconomic uncertainty and lower-than-expected revenue in the first half of the year as key reasons for the restructuring. This strategic move aims to adjust its operations and steer the company toward profitability amidst a challenging financial climate for the tech industry.