AudioCodes Layoffs
July 2023
AudioCodes announced a layoff affecting 80 employees (6% of its workforce) in July 2023. The company operates in the Other sector.
80
6%
Jul 13, 2023
About
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.
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