More than 740 high-tech workers laid off in one week.
Prolonged supply chain problems caused by the COVID-19 pandemic and current market fluctuations, partly caused by the war in Ukraine, have led to global market instability that has rocked the Israeli business sector, causing a massive wave of layoffs across the technology sector. On Country.
This week, seven high-tech companies saw new layoffs in Israel, the latest in a string of layoffs that totaled more than 45 individual cases in the past six months.
Telemedicine platform Antidote Health released a statement announcing 43 layoffs, over 28% of its total workforce. The statement cited “uncertainty in the financial markets” as the main reason for the cut and noted that Antidote “is taking action on all fronts to optimize and conserve its liquidity.”
“To adapt to the market situation, we have been forced to make changes to our workforce. The company will continue to promote its long-term vision of providing affordable and affordable health insurance to millions of Americans who currently don’t have this basic freedom at their fingertips, ”the statement read.
Additionally, the Calcalist report announced the layoff of 62 employees by OrCam, a company that develops devices for the blind.
Cyber security unicorn Snyk fired 198 employees this week after firing 30 employees in July. In a post on the company’s website, Snyk CEO Peter McKay wrote: “Today is one of the most difficult days in Snyk’s history. During 2022, as our business continued to grow, we also saw a series of significant market changes as a result of which we are restructuring and downsizing our global workforce, which will affect 198 employees, representing 14% of our total workforce today. “
“Our business continues to grow strongly, more than doubling every year and currently has over 2,300 customers, but now we need to be even more efficient so that Snyk can effectively withstand the ongoing obstacles facing the global economy,” he wrote. McKay.
Additionally, 30% of the developer of the Vee volunteer platform has been fired, leaving the company with just 17 employees, as well as firing 150 people from the Fintech Unicorn Fundbox.
In a letter to employees, Fundbox CEO Prashant Fuloriya wrote: “As macroeconomic trends continue to affect the small business economy, we too are facing significant business hurdles. It is clear that these economic problems will last longer than we initially expected ”.
Nearly 200 more employees were fired from Cybereason cybersecurity unicorn, twice as many as in June when 100 people were fired.
“This is a difficult decision for us and we are doing everything we can to help employees through the process. As market conditions have changed significantly and the technology IPO market has effectively closed, companies like us need to be financially rigorous and prioritize financial performance over growth, ”Cybereason said in a statement.
60 employees were laid off from the Hewlett-Packard branch in Netanya. The company said in a statement: “There is currently no possibility of expanding the operations of HP Industrial. The company continues to innovate and create value for its customers, with the aim of encouraging the digitization of the entire sector in various ways and through cutting-edge technologies. “
Cursor wrote this earlier The statistics satisfy: unemployment in Israel has decreased. The unemployment rate has worsened all summer, but statistics showed encouraging results in September. The unemployment value in September was 3.9%.
The cursor indicated this Tel Aviv has a booming start-up industry. Last year Tel Aviv was declared the most expensive city in the world by Fortune magazine.
Our editorial staff reported it Israel ranks first for quality of digital life. SurfShark’s fourth annual digital quality of life (DQL) index has been released.
Moreover, Israeli technology leads Europe in artificial intelligence.
