Lightricks preparing new layoffs as AI reshapes company structure
Jerusalem-based unicorn expected to cut dozens of jobs amid organizational overhaul.
Jerusalem-based Lightricks is preparing to lay off dozens of employees as part of an organizational restructuring effort. The final number of layoffs has not yet been determined, but the cuts are expected to affect at least several dozen workers.
Last year, the company unveiled a series of advanced AI-based video-generation models as it expanded deeper into artificial intelligence products.
Lightricks employs around 500 people, with its main operations based in Jerusalem. Since its founding, the company has raised approximately $335 million across four major funding rounds.
In its Series D round in September 2021, the company raised $100 million at a valuation of approximately $1.8 billion. Investors in the company include Insight Partners, Goldman Sachs, Hanaco and Viola Group.
The company has already undergone several rounds of layoffs in recent years, including a reduction of 85 employees last October.
