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Full list of Israeli high-tech layoffs in 2022-23

Full list of Israeli high-tech layoffs in 2022-23

The financial crisis is taking its toll on Israeli high-tech, with numerous companies parting ways with significant portions of their workforce

CTech | 09:27  06.02.2023


Empty high-tech office. Empty high-tech office. Empty high-tech office.

6.2.23

Fintech startup TenureX shuts down after funding dries up

The company had raised a total of $5 million and employed around 20 people before being hit hard by the economic downturn

5.2.23

Lightico lays off 25% of team in second round of cutbacks

The fintech company laid off 20 of its 80 team members after parting with a similar number of employees last March

2.2.23

Cybersecurity company Cyren on verge of shut down after laying off entire workforce

The Israeli-founded company said that “in response to current market conditions and associated challenges with raising additional capital” it plans to “reduce its workforce by approximately 121 employees, representing substantially all of the company's workforce”

30.1.23

AU10TIX cuts 9% of workforce

The company, which develops identity verification and management automation tools, is laying off a total of 19 employees

25.1.23

Gambling group 888 lays off dozens of employees

888 employed around 590 people in Israel prior to the cutbacks

Qualcomm set to cut dozens of jobs in Israel in new round of layoffs

The U.S. chip giant, which acquired Israeli startup Cellwize for $350 million last June, employs 700 people in Israel out of its total workforce of 12,500 employees

Fintech giant Finastra laying off dozens of employees in Israel

Finastra employs over 11,000 people worldwide, including 370 at its R&D center in Israel

Ermetic founders. Ermetic founders. Ermetic founders.

24.1.23

Video advertising company Innovid lays off 10% of workforce

The Israeli-founded company completed a SPAC merger at a $1.2 billion valuation in December 2021, but currently has a market cap of $310 million

23.1.23

Namogoo parting with 15% of workforce in second round of layoffs in less than three months

Company CEO Chemi Katz said the latest cutbacks will make the startup profitable immediately

Cloud security startup Ermetic lays off 17% of team.

The Israeli company, which paid tens of thousands of dollars to appear on the hit Netflix series Fauda last year, will be parting with 30 employees in total.

15.1.23

Gifting platform Snappy sacking 30% of its workforce, around 100 employees

“Unfortunately, we must make extremely painful choices in order to orient Snappy’s financial profile toward sustainable growth and profitability,” wrote CEO Hani Goldstein

11.1.23

Fintech unicorn Tipalti lays off 123 employees, 11% of team

Tipalti raised $270 million at an $8.3 valuation in December 2021

Pagaya preparing to part with 100 employees, 15% of workforce

The fintech company, which became Israel’s highest-valued company for a short time last year, employs 650 people and announced its first acquisition on Wednesday, purchasing proptech platform Darwin Homes

UPDATE (18.1.23): Pagaya confirms layoff of 20% of workforce, 140 employees

10.1.23

StreamElements sacks 20% of team for the second time in seven months

The company, which raised $100 million in funding led by SoftBank Vision Fund 2 in September 2021, also laid off 20% of its workforce last June

9.1.23

Forescout fires 60% of Israeli R&D staff

The Israeli-founded cybersecurity company is parting with around 10% of its total team in its second round of layoffs over the past four months

Minute Media employees. Minute Media employees. Minute Media employees.

8.1.23

WalkMe lays off 43 employees, 3% of workforce

The software company, which went public on Nasdaq at a $2.5 billion valuation in June 2021, said it is cutting jobs as part of its strategic focus on enterprises

Minute Media laying off around 10% of employees

The digital ad startup, which previously acquired the likes of The Players’ Tribune and FanSided, will part with 50 employees

5.1.23

Predictive analytics platform Pecan AI parts with a quarter of its employees

The Israeli company, which raised a $66 million Series C one year ago, is laying off 30 of its 120 employees

Fintech company Personetics lays off 30 employees, 8% of team

The Israeli firm raised $85 million from Thoma Bravo last January

Twine Solutions cuts a third of its workforce

The company, which develops digital thread and yarn dyeing technology, is laying off 30 employees in total

Pecan.AI co-founders. Pecan.AI co-founders. Pecan.AI co-founders.

4.1.23

Salesforce sacking 10% of global workforce

The software giant is expected to lay off dozens of employees in Israel as part of the cutback plan

Kaltura cuts 11% of workforce in another round of layoffs

The video creation and distribution company already laid off 10% of its team five months ago

Unicorn Augury laying off 5% of team

The mechanical diagnostics platform provider, which raised $180 million in October 2021, is cutting 20 jobs

Salesforce. Salesforce. Salesforce.

2.1.23

Amdocs axes 700 employees, 3% of workforce

Despite coming off an excellent year in which its share price climbed in contrast to the rest of the tech market, Amdocs decided to begin 2023 with cutbacks

15.12

Intel Israel lays off dozens of employees as part of global cutbacks

Following the decision to implement cutbacks announced two months ago, Intel told each of its global centers that they are required to reduce their expenses

11.12

Computer vision startup Brodmann17 closes down

Almost 30 employees were laid off after the crisis forced the six-year-old startup to cease its operations

UPDATE (25.12): Computer vision startup Brodmann17 facing liquidation

Playtika founder. Playtika founder. Playtika founder.

9.12

Playtika to part with 500 employees next week

The gaming giant is expected to lay off between 12-15% of its workforce after already firing 250 employees in May

UPDATE (12.12): Playtika confirms lay off of 610 employees, 15% of team

8.12

Otonomo ousts almost 50% of its remaining workforce

The autotech company has lost over 95% of its value since going public via a SPAC merger at a $1.26 billion valuation

Cybersecurity startup CyCognito cuts 15% of jobs

The Israeli company is laying off around 30 employees one year after raising $100 million at an $800 million valuation

Cybersecurity unicorn Armis axes 25 employees

The Israeli company, which raised $300 million at a $3.4 billion valuation one year ago, will be parting with 3.5% of its team

CyCognito co-founders. CyCognito co-founders. CyCognito co-founders.

6.12

Cybersecurity unicorn Perimeter 81 parts with 8% of team six months after raising $100 million

The startup, which reached a $1 billion valuation in its Series C in June, is laying off 20 of its 250 employees

5.12

Cybersecurity unicorn Aqua axes 10% of workforce

The Israeli cloud security company will be laying off 65 employees in total

DataRails lays off 18% of team

The financial planning and analysis platform is parting with 30 employees

Startup Santa to sack most of its employees

“With a heavy heart we decided that we need to take a few steps back, reduce our burn to near-zero, and use the next few months to completely rethink our direction,” wrote CEO Roee Adler

Aqua CEO Dror Davidoff. Aqua CEO Dror Davidoff. Aqua CEO Dror Davidoff.

1.12

Bizzabo laying off another 100 employees, cutting almost 40% of remaining workforce

Five months ago the event planning platform parted with 120 employees, meaning it has cut more than half of its team since July

22.11

Unicorn Trax embarks on another round of layoffs, parting with 8% of workforce

The Israeli company will be laying off another 70-80 employees after parting with over 100 workers in June

Fintech unicorn Rapyd set to lay off dozens of employees

Israel’s highest-valued startup, which reached a $15 billion valuation earlier this year, could lay off more than 10% of its 900 employees

Rapyd co-founders. Rapyd co-founders. Rapyd co-founders.

17.11

Fintech unicorn Capitolis cuts almost 25% of workforce

The company, which raised $110 million at a $1.4 billion valuation this past March, is laying off 37 employees in total

16.11

Similarweb sacks 130 employees, 10% of workforce

“We have made the very difficult decision to reduce our headcount in preparation for prolonged changes in demand,” said CEO Or Offer, who believes the company can become profitable in 2023

Unicorn Yotpo lays off 70 employees, 9% of team

The marketing service is cutting its workforce after significantly increasing hiring following a $230 million funding round at a $1.4 billion valuation in March 2021

Philips Israel laying off dozens of employees as part of global cutbacks

The Dutch technology giant announced last month that it would be cutting 4,000 jobs worldwide

Similarweb IPO. Similarweb IPO. Similarweb IPO.

15.11

Messaging app Rakuten Viber lays off 45 employees, 8% of team

Russia’s invasion of Ukraine, two countries in which Viber has a major customer base, has significantly impacted the company’s bottom line

Unicorn OwnBackup ousts 15% of workforce

The cloud backup company, valued at $3.35 billion last year, is laying off over 150 employees in Israel and the U.S.

14.11

Unicorn Cloudinary cuts 8% of workforce

The company, which has developed a platform to manage media assets, has been bootstrapped since it was founded and announced a secondary investment of $110 million at a company valuation of $2 billion earlier this year

11.11

Proptech startup Veev cuts 30% of jobs eight months after raising $400 million

The technology-enabled homebuilding company is laying off around 100 employees despite taking its total funding to $600 million earlier this year

Veev co-founders. Veev co-founders. Veev co-founders.

9.11

Namogoo lays off 15% of workforce

The Israeli startup, which raised $15 million six months ago to take its total funding to $81 million, is parting ways with 25

6.11

Varonis lays off 110 employees, downsizes R&D staff

The Nasdaq-traded firm saw its share price plummet by more than a third last week following its disappointing results for the third quarter of the year

2.11

Cybersecurity unicorn Checkmarx cuts 10% of workforce

The Israeli company, acquired by American private equity firm Hellman & Friedman at a $1.15 billion valuation in March 2020, is laying off around 100 employees

31.10

Equitybee lays off 20% of workforce, stinging employees

The startup connects employees in high-tech companies who want to exercise their options and qualified investors who want to purchase shares of private companies before they become public

EquityBee founders. EquityBee founders. EquityBee founders.

27.10

HP lays off 60 employees in Israel

Following the layoffs, most of HP’s activity in Israel will be concentrated under Indigo, which HP acquired in 2001

26.10

Cyber unicorn Cybereason sacks 200 employees, 17% of workforce

This is the second round of layoffs at the company, which parted ways with around 100 employees in June

25.10

Vee continues cutbacks, laying off 50% of remaining employees

After parting ways with 30% of the team in July, the volunteering platform is cutting its workforce again and will remain with just 17 employees

Fintech unicorn Fundbox fires 40% of workforce

The Israeli-founded company is laying off 150 of its 360 employees, half in Israel and half in the U.S. “We grew our team too fast, and we need to course correct,” said CEO Prashant Fuloria

Vee co-founders. Vee co-founders. Vee co-founders.

24.10

Cyber unicorn Snyk set to sack 150 employees

The Israeli-founded company, which raised $530 million at an $8.5 billion valuation last year, will be laying off almost 15% of its workforce

23.10

Antidote axes a third of its employees

The company, which develops a telehealth platform for the U.S. market, is cutting its Israeli R&D staff by half

OrCam lays off 16% of workforce

Amnon Shashua and Ziv Aviram’s artificial vision startup is sacking a total of 62 employees

OrCam co-founders. OrCam co-founders. OrCam co-founders.

11.10

Intel's Habana Labs lays off 10% of workforce

The chip maker, which was acquired by Intel in 2019 for $2 billion, denied the downturn in the market was behind the decision to fire around 100 employees

15.9

Healthtech startup DayTwo laying off dozens of employees

The Israeli startup's solution for metabolic disease aims to improve health outcomes and reduce or eliminate prescription medications

14.9

Taboola laying off 6% of workforce, a total of over 100 employees

Founder and CEO of the digital advertising platform Adam Singolda sent a letter to the employees announcing the cutbacks, which include a plan to reduce costs by $38 million

12.9

Compete cuts a quarter of its workforce six months after raising $15 million

The Israeli startup is parting ways with 11 of its 39 employees from its HR, marketing, and sales departments

Compete co-founders. Compete co-founders. Compete co-founders.

7.9

Chip startup Xsight Labs axing dozens of employees

The Israeli company has raised upwards of $100 million in three rounds led by Israeli tech entrepreneur Avigdor Willenz, Intel, and Microsoft

Cloud data unicorn Firebolt fires dozens of employees

The Israeli company raised $100 million at a $1.4 billion valuation earlier this year

4.9

Snap sacks dozens of employees in Israel, to close Herzliya R&D center

The social media giant’s activity in Israel was built around the acquisitions of AR startup Cimagine and Voca.ai, which was acquired for around $70 million in November 2020

Firebolt co-founders. Firebolt co-founders. Firebolt co-founders.

1.9

Hippo Insurance lays off 70 employees, cutting 10% of workforce

The shares of the Israeli-founded insurtech company fell by almost 6% on Wednesday, reducing the company’s market cap to $555 million

28.8

Otonomo to lay off dozens of employees after losing over 90% of value

Just a year after it went public via a SPAC merger at a value of $1.26 billion, Israeli autotech company Otonomo has seen its market cap plummet to a mere $62 million

24.8

Real estate platform Reali shutting down operations

The Israeli-founded startup raised a $100 million Series B just one year ago

21.8

NSO lays off 100 employees, CEO Shalev Hulio to step down

The much-maligned offensive cyber company will be parting ways with around 15% of its workforce, while long-standing CEO Hulio will focus on the sale of the company, which has been under intense scrutiny since last year for the sale of its Pegasus hacking tool

14.8

Startup anywell reduces workforce by 50% as part of company restructure

The Workspace-as-a-Service platform for a hybrid work model has laid off 11 additional employees as it continues its restructuring which began following a $10 million Series A in March

Kaltura management. Kaltura management. Kaltura management.

9.8

Kaltura cuts 10% of workforce as growth stalls and takeover looms

The Israeli-founded video creation and distribution company is laying off 80 employees, 30 of them in Israel

Wix laying off 100 employees

This will be the second significant cost cut by the company since it announced its intention to reduce expenses earlier this year, with Wix parting with several dozen employees when it closed its subsidiary Wix Answers in June

31.7

Volunteering platform Vee lays off 30% of workforce

Vee’s platform hosts a wide range of volunteering opportunities, enabling HR teams to find, coordinate, and share charity events

27.7

Marketing platform Skai sacks scores of employees

The Israeli company, formerly known as Kenshoo, is laying off around 30 employees, making up about 4% of its workforce

Fiverr CEO. Fiverr CEO. Fiverr CEO.

26.7

Fiverr fires 60 employees as part of a refocus on core business

The NYSE-traded and Israeli-founded online gig marketplace will be laying off around 8% of its workforce. Fiverr shares have fallen by 66% in 2022 and by almost 90% from their peak at the start of 2021

Outbrain to oust 38 employees after losing 75% of its market cap in a year

The internet recommendation platform will be laying off around 3% of its workforce

24.7

Asurion shutting down Israel R&D center Soluto, lays off all 120 employees

Soluto was acquired by the U.S. company in 2013, but will be closing as part of a reorganization being taken on by Asurion

21.7

Vimeo slashes workforce by 6%, including in Israel R&D center

The video hosting, sharing, and services platform will be parting ways with around 70 employees in total, including about 10 of its 120 employees in Israel

Vimeo employees. Vimeo employees. Vimeo employees.

20.7

Zencity cuts 20% of workforce

The Israeli startup, which provides community insights and an analytics platform for state and local governments, will be parting ways with around 30 employees

Kornit Digital laying off dozens of employees after share price crashes

The Israel-based maker of industrial inkjet printers for the garment industry has seen its stock fall by over 80% since the start of the year

18.7

Unicorn Lusha lets go of 10% of employees

The Israeli company will be parting ways with 30 employees eight months after raising $205 million at a $1.5 billion valuation

13.7

Retail technology unicorn Fabric laying off over 120 employees

Fabric reached a $1 billion valuation just this past October when it raised $200 million, but will now be parting ways with a third of its staff

Next Insurance. Next Insurance. Next Insurance.

7.7

Insurtech unicorn Next Insurance nixes 17% of workforce

The company is laying off 150 employees, mostly in the U.S., explaining that “we must shift focus towards profitability”

6.7

Anodot lays off more than a quarter of its workforce

The business monitoring company is parting ways with 35 of its 129 employees

SQream slashes over 15% of workforce

The data analytics startup is laying off 30 of its 170 employees in order to help it reach a balanced bottom line

5.7

Bizzabo axes almost 30% of employees

The event planning platform will lay off 120 of its 400 employees as it prepares for an extended downturn in business

Bizzabo founders. Photo: Courtesy Bizzabo founders. Photo: Courtesy Bizzabo founders. Photo: Courtesy

Verbit to layoff 10% of its workforce, eight months after $250 million funding round

Most of the total of around 80 layoffs will be of employees in the U.S., with 30 employees from Israel leaving the company

eToro laying off 100 employees, officially announces termination of SPAC

The trading platform is currently in advanced negotiations for a private funding round for between $800 million and $1 billion, at a $5 billion valuation

4.7

Unicorn cutbacks: Lightricks to lay off 80 employees - 12% of workforce

Lightricks is the latest in a growing list of unicorns to lay off employees despite having hundreds of millions of dollars in their account, joining the likes of Cybereason, Trax, and Snyk

3.7

Snyk laying off 30 employees less than a year after raising $530 million

The cybersecurity unicorn announced that it would be making organizational changes despite reaching a valuation of $8.5 billion last year and raising a total of $830 million in 2021

Snyk founders. Snyk founders. Snyk founders.

Ailing crypto lender Celsius to lay off a quarter of its employees

The American-Israeli company is parting ways with around 150 employees as it continues to look for a way out of a crisis that saw it pause all withdrawals from its platform three weeks ago

29.6

Parallel Wireless set to lay off a quarter of its employees in Israel

Around 60 of 250 employees are set to leave the American company, which was founded in 2012 and set up its R&D center in Israel six years later

28.6

Bright Machines lays off 30 employees in Israel

The American company develops software-defined autonomous manufacturing lines for industry and has an R&D and operations center in Kibbutz Yakum in Israel’s Sharon region

27.6

Alibaba closes R&D center in Israel, lays off entire staff

Around 50 employees were notified on Sunday that they will be laid off after the Chinese e-commerce giant decided to shut down local development

StreamElements team. StreamElements team. StreamElements team.

26.6

StreamElements to lay off 20% of employees less than a year after raising $100 million led by SoftBank

The company, which provides engagement and monetization tools for live and VOD content creators, joins Cybereason and Trax on the list of Israeli SoftBank-backed startups making cuts

22.6

Airspan laying off 35 employees in Israel

The U.S. company announced just four months ago that it plans on recruiting dozens of additional employees in the country

20.6

Retail analytics unicorn Trax to lay off over 100 employees

“We still have a lot of money in our account from last year’s funding round, but we are required to reach profitability faster than we had planned,” said Trax co-founder and Executive Chairman Joel Bar-El

Elementor founders. Elementor founders. Elementor founders.

15.6

Elementor laying off dozens of employees

The total number of staff members that will be leaving the company is estimated to be around 50-60, most of them from the marketing department

1.6

Cybereason laying off 100 employees in Israel, U.S. and Europe

Earlier this year, Cybereason, which is backed by SoftBank's Vision Fund 2 and former U.S. Treasury Secretary Steven Mnuchin's investment firm, confidentially filed for a U.S. initial public offering that could value it at more than $5 billion

31.5

Playtika to lay off 250 employees in North America and Europe

The gaming giant is looking to consolidate some of its activities and therefore decided to close its R&D centers in London and Montreal, and to transfer the activity of its Los Angeles studio to Israel and Poland

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