Wholesale marketplace Faire laid off 20% of its staff (approximately 250 employees) in November 2023, affecting engineering, product, design, and data science teams. A spokesperson said the company "restructured to better align its teams with its long-term vision." This followed a 7% cut in October 2022.
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Faire
Faire enables retailers to "Shop by your values" with filters for Women-owned, AAPI-owned, Black-owned, Latino-owned, and LGBTQI+-owned businesses. The company provides equal employment opportunities (EEO) to all employees and applicants without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, gender identity or expression.
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Faire — DEI: SUPPORTED Faire enables retailers to "Shop by your values" with filters for Women-owned, AAPI-owned, Black-owned, Latino-owned, and LGBTQI+-owned businesses. The company provides equal em… https://reciepts.tech/stance/1470
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See all →Faire's November 2023 layoffs followed a structure the company said was "built with multiple layers of management to support our pace of hiring. When we slowed down hiring last year, naturally we weren't able to grow into that larger structure." The company was valued at $12.59B at peak but dropped to $5.2B following a secondary share offering.