Layoffs in Israel

SolarEdge laid off 400 employees on 2024-07-15.

Israeli augmented reality startup Sightful laid off 20 employees, representing one-third of its approximately 60-person workforce, in early July 2024. The company, which had raised over $60 million, is making a strategic pivot away from hardware. Following the recent launch of its Spacetop G1 AR laptop, Sightful is disbanding its hardware department to focus exclusively on developing and distributing its spatial computing software and operating system. This shift is a response to rapid advancements in the computing market, including new AI-powered computers from major tech firms, as the company aims to accelerate its business model by licensing its software to various hardware partners.

Israeli unicorn Lightricks is laying off approximately 70 employees, representing 12% of its 600-person global workforce, as announced in July 2024. This marks the company's second round of layoffs in two years and is part of a strategic shift to focus on generative AI products for enterprises, such as its LTX Studio video creation tool. The cuts primarily affect the consumer applications division, where products failed to meet growth targets. Concurrently, Lightricks plans to hire dozens of new AI experts, emphasizing recruitment in Israel, as it pivots its core operations toward the competitive enterprise AI market.

eBay is laying off dozens of employees at its Israeli R&D center in Netanya as part of a global restructuring effort to improve efficiency and better respond to customer needs. This marks the third round of layoffs specifically in Israel, following a previous round earlier in the year that affected an estimated 30 staff, mostly from the buyer experience department. The e-commerce giant, which has conducted multiple global workforce reductions, stated the decision was difficult given the current situation in Israel but emphasized the site remains integral to its product strategy. The Israeli center, established after acquisitions like Shopping.com, continues its operations amid these cuts.

Israeli ad-tech company Perion Network laid off 20 employees in August 2022, representing about 5% of its workforce, which stood at 420 at the end of 2021. The layoffs, affecting 19 staff in New York and one in Israel, were part of a restructuring to move the activities of its acquired subsidiary Content IQ from New York to its headquarters in Holon, Israel. This move aimed to centralize management, enhance operational focus, integrate automation, and maximize synergies within the company's expanding digital advertising operations. Despite the cuts, Perion, a mid-cap company with a market value around $950 million, continued to grow and had over 30 job openings at the time, primarily in Israel.

Fintech company Bluevine is laying off approximately 20 employees in Israel, representing about 12% of its local workforce, as announced in June 2024. The company, which provides a digital banking platform for small businesses, stated the layoffs are part of adjustments to align with its business strategy and changing market needs. Despite the cuts, Bluevine emphasized that Israel remains its R&D center and that it continues to recruit for open positions there, maintaining confidence in its financial stability and long-term growth in the U.S. market.

Moovit, the journey planning app owned by Intel's Mobileye, is laying off around 20-25 employees, representing approximately 10% of its 225-person workforce. The layoffs, announced in June 2024, are part of a restructuring to focus on the company's core business and accelerate its path to profitability. This move follows recent management changes, including the replacement of its co-founder as CEO three months prior, which was linked to the end of a four-year retention period following its $1 billion acquisition. Despite reporting high revenue growth and an expectation to achieve positive cash flow, the company is making adjustments in the competitive mobility tech industry.

Israeli fintech unicorn Rapyd is laying off approximately 30 employees in Israel, which represents a small portion of its 800-person workforce in the country. The layoffs, announced in June 2024, affect various departments as the company moves these positions to Eastern Europe and South America to reduce operational costs. Rapyd, a global payments platform serving major clients like Adidas and Uber, employs about 1,700 people worldwide. This restructuring follows its $610 million acquisition of PayU GPO last year, which expanded its global reach but now prompts cost-cutting measures.

Fintech company Pagaya is laying off 100 employees, representing about 20% of its 540-person global workforce, with most cuts affecting its Israeli operations. This second round of layoffs in a year and a half, following 140 job cuts in early 2023, is part of a continued reduction of the company's presence in Israel. Despite reporting positive financial results for Q1 2024, the Nasdaq-traded firm, which specializes in AI-driven loan underwriting, is restructuring across all departments and management levels. The move aligns with a broader trend of cost-cutting and operational consolidation, potentially influenced by the ongoing regional situation.

Israeli cultivated meat startup Aleph Farms is laying off approximately 30 employees, which represents about 30% of its roughly 100-person workforce. The layoffs, announced in early June 2024, are a result of significant challenges in securing investment over the past year, driven by a sharp global decline in investor interest in the alternative protein and cultivated meat sector. This downturn has been particularly severe in Israel, where political and security instability has further deterred investors, leading to an 80% drop in sector funding in 2023. Despite being a leading company in its field and recently receiving initial regulatory approval for its products, Aleph Farms was forced to cut costs as it could not meet its expansion plans and investor expectations amid the difficult funding environment.

OrCam, the Israeli assistive technology startup founded by Amnon Shashua, has laid off 100 employees in June 2024, marking its second round of job cuts within four months. This reduction affects about half of the remaining workforce after an earlier layoff of 50 employees in February. The company, which develops reading devices for the visually impaired, is primarily cutting marketing and sales roles in Israel and the U.S. due to a sharp decline in sales, particularly to Arab countries amid geopolitical tensions. Additionally, the rise of generative AI technologies offering similar functions via smartphones has impacted demand. OrCam is now focusing on streamlining operations, splitting its hearing and vision divisions, and prioritizing the development of hearing aid systems to achieve profitability and prepare for future capital raising.

Sight Diagnostics, an Israeli medical device startup specializing in rapid blood testing technology, laid off approximately 40 employees on May 9, 2024, representing about 30% of its 130-person workforce. This marks the company's second significant round of layoffs following a 2022 reorganization. The company, which has raised $124 million, cited the need to ensure financial strength amid a challenging macroeconomic environment in Israel and globally.

Israeli fintech startup RiseUp, which provides a technology platform to help customers control expenses and save money, has laid off 50 employees, representing 50% of its 100-person workforce. The layoffs, announced on April 30, 2024, are part of a broader adjustment to ensure the company's growth and profitability amid challenging market conditions, including the ongoing war in Israel. Founded in 2017 and having raised $48 million in total funding, the company stated the difficult decision was necessary alongside other cost-saving measures to focus on its core business.

Israeli cybersecurity startup Identiq is laying off approximately 20 employees, representing almost half of its 45-person workforce, as part of a reorganization announced in early April 2024. The company, which developed an anonymous identity validation network, stated the cuts are necessary to focus on its leading product solutions and ensure long-term growth. Founded in 2018 and having raised a $47 million Series A round in 2021, Identiq will reduce staff in both Israel and the U.S., affecting full-time employees, interns, and freelancers.

Orbotech, an Israeli subsidiary of American semiconductor equipment giant KLA Corporation, is laying off over 100 employees. This follows the strategic closure of its flat panel display (FPD) division, one of its two main business units. The layoffs, announced in March 2024, are a direct result of a severe and continuous market decline. The FPD and printed circuit board testing division saw revenues plummet by 48% in 2023, contributing to only about 3% of KLA's total revenue, as weak consumer electronics demand led to reduced investment from customers, primarily in the Far East. The decision was accelerated by the cancellation of a major project with a key client.

Autotech startup Wisense, a radar developer for the automotive industry, is shutting down after laying off nearly all its employees. The company, which had raised a total of $37 million from notable investors, once employed around 70 people. In November, it dismissed approximately 90% of its workforce, retaining only a small team to manage asset sales. Recently, those remaining staff were also notified of the company's complete closure, marking the end of its operations. The shutdown reflects broader challenges in the sector, with the company's website now inactive and no response to inquiries.

Everybuddy Games, an Israeli casual mobile game developer, has entered bankruptcy with over $4 million in debt, leading to significant layoffs. The company, which once employed over 70 people, now has only seven employees remaining, indicating a reduction of approximately 90% of its workforce. This drastic downsizing follows the Tel Aviv District Court appointing a trustee in February 2024 to oversee potential asset sales. Despite raising $15 million in a Series A round in late 2022, the startup, known for its game Lucky Buddies, accumulated unsustainable debt, forcing it to seek court protection and cease most operations.

LiDAR technology developer Innoviz is laying off approximately 60 employees, representing 13% of its 468-person workforce, as announced on January 31, 2024. The automotive tech company, headquartered in Israel with operations in Europe and the U.S., is implementing these cuts to reduce annual cash outlays by $22-24 million and extend its financial runway. This restructuring aims to optimize costs and focus investments on its newer InnovizTwo sensor and software suite, as the company navigates a critical market capture phase in the competitive LiDAR industry.

eBay announced on Tuesday, January 23, 2024, that it is laying off approximately 1,000 full-time employees, representing about 9% of its workforce. The e-commerce giant, headquartered in San Jose, California, is implementing these cuts as part of a broader organizational restructuring. CEO Jamie Iannone stated that the company's headcount and expenses had grown faster than its business, necessitating the move to become more focused and agile. The layoffs are part of a wider trend of downsizing in the tech industry in early 2024, driven by concerns over consumer spending and economic pressures. eBay will also reduce its contract workforce in the coming months.

SolarEdge, a renewable energy company specializing in solar installation management systems, is laying off 900 employees, representing about 16% of its global workforce of approximately 5,500. This significant restructuring, announced in January 2024, is a direct response to a severe and unexpected drop in revenue. The company, which was recently part of the S&P 500, has seen its valuation plummet by 80% and anticipates its Q4 2023 revenue to be 55% lower than the previous quarter. The downturn is attributed to postponed orders and cancellations from European customers and distributors, high inventory levels, and a challenging macroeconomic environment where elevated interest rates have made financing renewable energy projects prohibitively expensive.

Israeli gaming company Playtika is laying off 300 to 400 employees, representing about 10% of its global workforce of 3,800. This new round of cuts follows a previous layoff of around 900 employees in 2022. The company, which has a market cap of approximately $2.9 billion, is implementing these reductions amid financial pressures, including a nearly 25% stock price decline since early 2023 and a recent 2.7% year-over-year revenue drop. The layoffs, announced in January 2024, are not expected to affect its Israeli offices, which employ about 1,100 people. Playtika continues to pursue acquisitions, such as the recent purchase of Israeli studio Innplay Labs for up to $300 million, even as it streamlines operations.

Gambling group 888 is laying off dozens of employees in Israel as part of a significant global restructuring effort aimed at better positioning the company for its long-term strategic plans. This follows a similar round of layoffs in Israel just last January. The Gibraltar-based company, which employs 11,000 people worldwide, has faced financial complications following its £2.2 billion acquisition of competitor William Hill in 2021. The layoffs were announced in January 2024, reflecting ongoing challenges in the online gambling industry for this publicly traded company.

Israeli computer vision startup Trigo is laying off 30 employees, which represents 15% of its approximately 200-person workforce. The company, which develops autonomous checkout technology for retail stores, announced the cuts across all departments in early January 2024. Trigo stated the restructuring is aimed at sustaining its leadership in innovation and expanding the deployment of its AI and computer vision technologies across its global retail client base, which includes major corporations. Founded in 2018, the company had raised $204 million, including a $100 million round in late 2022.

Israeli cloud security unicorn Orca Security is laying off approximately 60 employees, which represents about 15% of its total workforce of around 430 people. The layoffs, announced in early January 2024, affect staff in Israel and globally, including offices in London, Portland, and Bangkok. The company, valued at $1.8 billion, stated it is restructuring and may offer some affected employees alternative positions within the firm. This move comes amid a competitive cybersecurity landscape where Orca is currently engaged in a high-profile patent infringement lawsuit against rival Wiz.

InSightec, an Israeli medical device company, is laying off 100 employees, which constitutes about 20% of its total workforce. The layoffs, announced in December 2023, affect 60 staff at its headquarters in Tirat Carmel, Israel, with the remainder from its global offices. The company, which develops MRI-guided focused ultrasound technology for treating essential tremor and Parkinson's disease, is undergoing restructuring. This follows a failed merger attempt with a SPAC two years prior that would have valued the company at $1.9 billion, leading to a significant drop in its valuation. InSightec, controlled by the Koch family and other investors, operates in the healthcare technology industry and is considered a significant player in the neuromodulation field.

E-commerce giant eBay is conducting a second round of layoffs in Israel this year, cutting approximately 20 to 25 positions from its 250-person workforce there, which represents nearly 10% of its Israeli staff. This follows a broader global reorganization announced in February, where eBay laid off 500 employees worldwide, including dozens in Israel. The company clarified that these latest reductions are not related to the ongoing conflict in the region but are part of its ongoing structural adjustments. The Israeli operations, established after acquisitions like Shopping.com, continue to be impacted by these global cost-cutting measures.

In December 2023, Israeli software development startup Incredibuild laid off approximately 40 employees, representing 20% of its then 215-person workforce. The company, which had raised $35 million in a Series B round in 2022, cited the dramatic decline in the software industry and challenging global macroeconomic conditions as reasons for the restructuring. This efficiency move aimed to ensure long-term growth and support the company's 2024 strategy, focusing on technological innovations to accelerate customer software development and expansion into new markets.

Forescout, an Israeli-founded cybersecurity company, is shutting down its Israel R&D center and laying off its remaining 40 employees in the country as of September 2023. This follows previous layoffs of 100 employees globally in October 2022 and another 100 in Israel in January 2023. The company, which employs over 1,000 people worldwide, has been undergoing restructuring since its $1.4 billion acquisition by private equity firm Advent International in 2020. The closure marks the end of its local operations, which expanded with the acquisition of Israeli startup CyberMDX in 2022.

Datagen, an Israeli AI startup, is on the verge of closure after laying off nearly all its remaining workforce in August 2023, leaving only about 10 employees. This follows a major layoff three months prior. The company, which had 110 employees as of May 2023, was severely impacted by the rise of generative AI like ChatGPT, which made its core data simulation product less relevant. Despite raising $70 million total, including a $50 million Series B in 2022, and entering acquisition talks with Meta that ultimately failed, the company could not adapt. A small team remains to explore a new direction.

StreamElements, an Israeli startup providing tools for content creators, has laid off 60 employees, representing 35% of its 160-person workforce. This marks the company's third round of layoffs, following cuts in June 2022 and January 2023. The company cited challenging market conditions and a persistent slowdown in the advertising market, noting that new client budgets did not offset reductions from existing clients. To achieve sustainable growth and profitability without further external funding, StreamElements implemented these workforce reductions. The startup, founded in 2017, had raised $100 million in 2021 led by SoftBank Vision Fund 2.

Israeli startup Dealtale, a customer journey analytics platform, has been shut down by its parent company Vianai Systems, resulting in layoffs for all 70 employees. This decision, announced in an August 2023 meeting, came just over a year after Dealtale's acquisition for approximately $20 million. The closure is attributed to Vianai's strategic pivot towards generative AI, which made Dealtale's existing products less central to its new direction. The layoffs affected the entire workforce, including over 30 employees based in Israel, marking a complete cessation of the startup's operations.

Fintech giant Finastra has laid off dozens of employees at its Israeli R&D center in August 2023, marking a second wave of layoffs this year following a similar round in January. The company, which employs over 11,000 people globally with about 370 in Israel, is restructuring to outsource roles to India and the Philippines as a cost-cutting measure. The Israeli branch is crucial, developing the Fusion Global PAYplus payment system used by hundreds of financial institutions worldwide. This move reflects broader challenges in the tech sector, impacting a key innovation hub within the global fintech industry.

Vesttoo, an Israeli insurtech startup, is laying off approximately 150 employees, which represents about 75% of its total workforce. This drastic reduction, announced in early August 2023, comes in the wake of a major fraud scandal involving an estimated $4 billion in allegedly fake letters of credit used in reinsurance transactions on its platform. CEO Yaniv Bertele stated the layoffs were a painful but necessary step to give the company a fighting chance at survival, preserving only a small core team for essential operations as it navigates the crisis and attempts to rebuild its business model aimed at revolutionizing the reinsurance industry.

AudioCodes, an Israeli provider of communication solutions for digital work environments, laid off approximately 10% of its workforce in July 2023. This reduction, affecting around 100 employees from a total of roughly 1,000, was a direct response to a significant downturn in the company's financial performance. Following the waning demand post-pandemic, AudioCodes faced declining revenues, a crashing stock price, and revised its annual forecast downward. The layoffs were part of a broader restructuring effort aimed at reducing costs and stabilizing the company amidst these challenging market conditions.

Israeli SaaS management startup Torii is laying off 28 employees, representing about 30% of its total team of 95, as announced in late June 2023. The company, which raised a $50 million Series B round in early 2022, cited macroeconomic uncertainty and lower-than-expected revenue in the first half of the year as key reasons for the restructuring. This strategic move aims to adjust its operations and steer the company toward profitability amidst a challenging financial climate for the tech industry.

Israeli anti-toxicity startup L1ght is shutting down and laying off all 22 employees after a planned acquisition by an American public company fell through. The company, founded in 2018, developed AI technology to detect harmful online content. The deal collapsed in May 2023 due to the broader economic slowdown, which impacted the acquiring company. Following the failed acquisition, L1ght sold its intellectual property and ceased operations.

AudioCodes, an Israeli Nasdaq-listed company specializing in voice-based transcription technology, is laying off approximately 80 employees, representing 6% of its workforce, immediately. Over the next 6 to 12 months, the total workforce reduction is expected to reach 8-10%. The decision, announced in May 2023, is a response to macroeconomic pressures impacting customer spending and follows a weaker-than-expected first quarter where revenues declined by 10.8% year-over-year, resulting in a net loss. The company, which operates in the voice technology and software industry, is taking these steps to restructure its spending amid ongoing market uncertainty.

Israeli surgical robotics startup Momentis, formerly known as Memic, is laying off 70 employees, which represents 60% of its workforce. The layoffs reduce the team from 120 to 50 employees, with about 40 based in Israel and the rest in the U.S. This significant downsizing, announced in May 2023, follows the collapse of a planned $1 billion SPAC merger in March 2022 due to unfavorable market conditions. Operating in the medical technology industry, the company develops robotic-assisted surgery solutions and had raised $116 million since its 2012 founding.

Israeli AI shopping startup Karma laid off 20 employees on May 4, 2023, representing 28% of its 70-person workforce. The company, which offers a browser extension and app for automated coupons, cash rewards, and price tracking, cited a strategic shift and market challenges as reasons for the cuts. All affected staff were based in Israel. Founded in 2014 and having raised $34 million, Karma stated the move was part of focusing on its core business from a position of strength and profitability.

Israeli fintech unicorn Earnix laid off approximately 30 employees, representing 10% of its workforce, in early May 2023. The company, which provides AI-driven pricing and insurance solutions, cited challenging macroeconomic trends affecting the U.S. insurance market as the reason for the cuts. Founded in 2001 and achieving unicorn status in 2021, Earnix had expanded its team following a $75 million funding round but now joins other tech firms in adjusting to a tougher economic climate.

Israeli offensive cyber company QuaDream is shutting down in April 2023, laying off its entire remaining workforce. The company, which developed spyware tools, had already dwindled to a skeleton crew, reportedly with only two employees left to maintain equipment. Its closure follows a damning report from Microsoft and Citizen Lab, which linked QuaDream's hacking tools to attacks on journalists and activists across at least ten countries. This research was described as the final blow for the company, which had been struggling for months. The board is now attempting to sell the firm's intellectual property.

American cybersecurity company BitSight has shut down its Israel-based R&D center, laying off the entire local team of 40 employees. This closure comes just 17 months after BitSight established the center through its acquisition of Israeli startup VisibleRisk in September 2021. The decision is attributed to the broader financial and high-tech market crisis. BitSight, which serves over 2,300 customers globally and was valued at $2.4 billion at the time of the acquisition, is consolidating its operations amid the challenging economic climate.

Wix, the Israeli-founded website building company, laid off 370 employees on February 15, 2023, representing over 6% of its then workforce of approximately 5,700. This marked a second round of cuts within six months, following 100 layoffs the previous September. The latest reductions primarily affected customer care departments in the U.S., leading to the closure of some service sites. The move is part of a broader $150 million cost-cutting plan, driven by operational difficulties and pressure from an activist investor, as the company adjusts after a period of rapid expansion during the pandemic.

REE Automotive, an electric vehicle technology company, is laying off approximately 50% of its workforce, affecting over 100 employees, as part of a drastic restructuring plan announced in June 2025. This follows a previous 11% reduction in 2023. The company, which currently employs around 300 people globally, is taking these measures after reporting a $70 million annual loss and issuing a "going concern" warning. Its goal is to slash operating expenses by 60% to stay afloat. Once valued at $3 billion after a 2021 SPAC merger, REE's market capitalization has plummeted to about $23 million, reflecting the severe challenges in the EV sector. The layoffs will impact staff in Israel, the U.S., and the U.K. as the company strives to streamline operations and extend its runway.

eBay laid off 500 employees representing approximately 4% of its workforce on 2023-02-07.

TenureX, an Israeli fintech startup, has shut down after exhausting its funding. The company, which developed a platform for correspondent banking, had previously employed around 20 people at its peak. Over the past seven months, it conducted successive layoffs as it failed to secure new investment, ultimately leading to its closure in early February 2023. Founded in 2020, TenureX had raised $5 million but could not complete a new funding round amid a tough economic climate and shifting investor sentiment, despite having a product and clients. The shutdown reflects the broader challenges faced by startups during the downturn.

Fintech startup Lightico has laid off 20 employees, representing 25% of its 80-person team, in its second round of workforce reductions, following a similar cutback in March 2022. CEO Zviki Ben Ishay cited the need to achieve profitability and conserve cash amid a challenging market, despite no slowdown in business. The company, which provides mobile e-signature and document solutions, aims to control its destiny and be ready for future fundraising when conditions improve. Lightico had raised $27 million in a Series B round led by Capital One Ventures in 2021.

AU10TIX, an Israeli identity verification and management automation company, laid off 19 employees in January 2023, representing about 9% of its total workforce of 220. The layoffs primarily affected back-office staff as part of a company reassessment to meet its 2023 business goals. Concurrently, AU10TIX announced plans to recruit sales and customer management personnel to drive growth and maintain profitability. The company, which serves major clients like PayPal and Uber, operates in the cybersecurity and fintech sectors and was reportedly valued at over $1 billion in the previous year.

Finastra, a global fintech giant, is laying off dozens of employees at its Israeli R&D center in Kfar Saba, as reported in January 2023. The layoffs affect a portion of the 370 staff at this center, which is responsible for developing the company's critical Global PAYplus system. While the exact number isn't specified, it represents a significant reduction within the Israeli operation. Finastra, which employs over 11,000 people worldwide, did not publicly state a reason for the cuts, which occurred amid a broader tech industry adjustment period. The Israeli center's work supports a vast network, processing $23 trillion daily for over 300 financial institutions.

Israeli startup Namogoo has laid off 20 employees, constituting over 15% of its remaining workforce, in its second round of job cuts in less than three months. Following the layoffs, the company's team will total around 100 people, primarily based in Israel with others in London, Boston, and New York. CEO Chemi Katz stated that these cutbacks will make the company profitable immediately, even as it continues to grow and serve major clients like Victoria's Secret and Neiman Marcus. Founded in 2014, Namogoo, which has raised $81 million, provides a digital journey continuity platform to help websites retain potential customers. This move reflects ongoing adjustments within the tech industry amid broader economic challenges.