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Webpals lays off 72 people as part of its growth strategy

Webpals lays off 72 people as part of its growth strategy

Management said firings had nothing to do with the coronavirus pandemic or to the company’s business activities

Meir Orbach | 15:38  20.07.2020
Israel-based online marketing company Webpals Group has laid off 72 people, including 55 in Israel, a person familiar with the move told Calcalist on condition of anonymity. The process began in recent months and continued until the last few days. The company confirmed the details but stressed that the firings had nothing to do with the coronavirus pandemic or to the company’s business activities, but rather part of a strategic shift.

“I joined XLMedia with a clear mandate to re-orientate the company for growth. To support this transformation, we have been working diligently to overhaul the leadership team, operating structure, and right-size the required resources of the business,” said Stuart Sims, the CEO of XLMedia PLC, which owns Webpals. “It is, of course, regrettable to make any redundancies. However, reshaping is a critical step as we move towards a more balanced portfolio of premium branded sites in markets that will deliver long-term sustainable revenue growth. I would like to personally thank those staff that we have had to part with for their valued contribution, all of whom have played an important role in the development of the business. Our commitment to Israel is unchanged - it remains a critical location and main center of operations as we pursue new growth and procure new skills for our global team.”

Stuart Sims, the CEO of XLMedia. Photo: Shahar Livny Stuart Sims, the CEO of XLMedia. Photo: Shahar Livny Stuart Sims, the CEO of XLMedia. Photo: Shahar Livny
Webpals offers a technological platform based on statistical models and artificial intelligence, which connects users to dedicated content in 20 countries and in 18 languages. It employs 400 people in its Tel Aviv office

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