OpenWeb Layoffs
June 2022
OpenWeb announced a layoff affecting 14 employees (5% of its workforce) in June 2022. The company operates in the Media sector.
14
5%
Jun 15, 2022
About
OpenWeb, an Israeli media engagement platform formerly known as Spot.IM, announced a streamlining plan on June 15, 2022, which includes laying off 14 development staff in Israel. This represents about 4.7% of its total workforce of 300 employees. The company is relocating its headquarters from Israel to New York, prompting these layoffs, with plans to hire 14 replacements in the U.S. Additionally, the plan involves reducing the work week to four days for 100 development staff in Israel, with potential salary cuts later in the year for those not meeting targets. These measures aim to prepare OpenWeb for an expected global economic slowdown and a potential IPO in 2023 or 2024. Operating in the digital media and technology industry, OpenWeb had recently raised $150 million at a valuation exceeding $1 billion, serving over 1,000 publishers with its platform.
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