OrCam Layoffs
June 2024
OrCam announced a layoff affecting 100 employees (50% of its workforce) in June 2024. The company operates in the Healthcare sector.
100
50%
Jun 3, 2024
About
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.
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