Verbit Layoffs
July 2023
Verbit announced a layoff affecting 60 employees (6% of its workforce) in July 2023. The company operates in the Data sector.
60
6%
Jul 27, 2023
About
Israeli AI transcription unicorn Verbit is laying off 60 employees, constituting about 6% of its 1,048-person workforce. This round, announced in July 2023, includes 20 layoffs in Israel and 40 abroad. The company, valued at $2 billion, cites a streamlining process to achieve profitability and eliminate role duplication following several acquisitions. This follows a previous 10% workforce reduction in July 2022. Verbit's employee count had recently doubled due to converting many freelancers to full-time staff.
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