Israeli location analytics company Placer.ai has laid off approximately 150 employees, resulting in an 18% reduction of its workforce.

The majority of those affected were based in the United States.

Founded in 2018, Placer.ai develops a platform for location analytics and foot traffic data.

As of February 2024, its client base includes over 4,300 companies using the platform for insights into physical property performance.

The company indicated that the layoffs are part of a strategic shift towards profitability and cost reduction.