MediaGB

Synamedia Layoffs

February 2023

Synamedia announced a layoff affecting 200 employees (12% of its workforce) in February 2023. The company operates in the Media sector.

People Affected

200

Percentage

12%

Announced Date

Feb 22, 2023

About

Synamedia, a global video software provider, has laid off approximately 200 employees, representing 12% of its workforce. This round of cuts, announced in February 2023, marks the company's second restructuring in recent months, following a smaller layoff the previous November. The company cited economic headwinds and a need to align its product strategies with evolving video market demands as reasons for the reduction. While affecting global operations, the layoffs include dozens from its Israel headquarters, though Synamedia emphasized that its Israeli hub remains a key center for innovation and security. The company, which serves major broadcasters and content providers, is navigating a challenging tech landscape with these workforce adjustments.