AudioCodes Layoffs
May 2023
AudioCodes announced a layoff affecting 80 employees (6% of its workforce) in May 2023. The company operates in the Other sector.
80
6%
May 9, 2023
About
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.
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