Verbit Layoffs
March 2024
Verbit announced a layoff affecting 0 employees in March 2024. The company operates in the Data sector.
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Mar 5, 2024
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Verbit, an AI-powered transcription and captioning platform, is conducting its third round of layoffs, cutting dozens of positions including about 20 in Israel. This follows the appointment of Acting CEO Yair Amsterdam in February 2024. The company, which employed around 500 people prior to this reduction, had previously laid off 60 employees in July 2023 and about 80 in the U.S. the year before. These cuts reflect ongoing challenges for the once high-flying unicorn, which reached a $2 billion valuation in 2021 but has since faced strategic shifts under new leadership.
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