Online wholesale marketplace Faire cuts 250 jobs as part of restructuring
Faire has joined the long list of tech companies that have announced sweeping layoffs this year.
The online wholesale marketplace confirmed to Business Insider that it has eliminated 250 jobs as part of a company-wide restructuring.
“We built our former organizational structure 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,” Faire said in a statement.
Sources claim that the company’s engineering, product, design, and data science teams were affected by the reduction.
It remains unclear if any Canadian employees were let go. The company has offices in Kitchener-Waterloo and Toronto.
The move comes a little more than a year after Faire reduced its workforce by approximately seven per cent in October 2022.
Prior to the October layoff, the company employed around 1,200 people.
If you’re a non-unionized employee, check out our Faire Layoffs guide.
You can also use our free Pocket Employment Lawyer tool for real-time insights.
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About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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