Lightricks is an AI technology company with tools for creative workflows across web, mobile, and open source for content creators, marketers, and professionals.
Lightricks is laying off 75 employees and expects to split its Facetune business and LTX video-AI division into separate companies. The cuts affect 17% of its employees, including 55 people in Israel working in core software and product development. After this and previous layoffs, the company expects to employ about 350 people, roughly half its workforce in 2022.
Lightricks co-founder and CEO Zeev Farbman argues that AI companies should prioritize profitable business applications over infrastructure spending. Founded in 2013, Lightricks builds on its image and video editing apps, including Facetune, and ranks among Israel’s early unicorns. Farbman describes generative AI and ChatGPT as a paradigm shift from explicitly modeling images to creating them from examples.
Lightricks lays off 85 employees, about 15% of its workforce, while reorganizing around artificial intelligence. The Jerusalem-based company says the cuts are not driven by financial pressure or cost-cutting; it plans to hire 30 people for its expanding AI division, which will become its largest department. The moves follow the launch of a text-prompt AI video generation model that Lightricks says costs significantly less than competing products such as OpenAI’s Sora.
