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Faire

Wholesale Marketplace Faire Announces Layoff of 250 Employees in Restructuring

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Faire, an online wholesale marketplace based in Kitchener-Waterloo and San Francisco, has laid off 250 employees as part of a company-wide restructuring, according to reports.

The job cuts primarily affected Faire’s engineering, product, design, and data science teams. This marks Faire’s second round of layoffs in just over a year, despite raising $416 million in a Series G extension in 2022.

Faire cited the need to streamline its organization due to a slowdown in hiring. The move reflects broader adjustments in the e-commerce industry, with several companies facing job cuts as physical retail rebounded.

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Faire and Shopify Join Forces to Boost Global Retail Commerce

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Faire, a prominent B2B retail marketplace, and Shopify have announced a substantial global partnership.

Faire is now endorsed as the recommended wholesale marketplace for Shopify, a giant empowering countless global merchants. This alliance is set to bolster Shopify’s B2B capabilities and drive growth for both companies’ clientele, mainly brands and independent retailers.

Notably, Shopify will become a Faire shareholder, highlighting their commitment to this enduring partnership.

The move intends to diminish barriers to B2B selling and enhance connections within customer communities, fostering substantial opportunities for small business expansion.

Want to know more? Check out the source code on Businesswire.com.