In February 2026, Remitly, a Nasdaq-listed digital payments company, laid off approximately 110 employees in Israel, representing over half of its roughly 200-person workforce in the country. This move involved closing the local research and development hub that originated from its $80 million acquisition of Israeli fintech Rewire in 2022. The company, operating in the financial technology industry, is consolidating its engineering functions globally to streamline operations, retaining only sales and business roles in Israel. Employees were notified via a Zoom call from U.S. executives, marking a significant strategic shift away from maintaining Israel as a key tech development center for its migrant worker and cross-border payment services.
