The e-commerce marketplace provider, which has one of its two headquarters in Kitchener-Waterloo, made the reductions on Wednesday in its engineering, product, design and data science departments, sources told Insider. A spokesperson for Faire confirmed the layoffs in a statement to The Logic, but declined to answer further questions on the record. (Insider, The Logic)

Talking point: The latest round of layoffs come after Faire cut about seven per cent of its roughly 1,200-person workforce in October 2022, The Information reported. “We’ve restructured the company to better align our teams with our long-term vision,” spokesperson Edie Campbell-Urban wrote in the statement. In an interview with The Logic earlier this week, Faire co-founder and CTO Marcelo Cortes said the company had about 350 staff in Canada and some of its talent team in the country were let go during last year’s restructuring. Faire recently announced a partnership with Shopify, in which the Ottawa-based company recommends the wholesale marketplace to its merchants.