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More than 500 Israeli tech workers were laid off on Sunday in the country’s most successful sector, which has lost thousands of workers in recent months, Hebrew-language media reported.
AID Genomics, a Singaporean medical technology company, has announced that it has significantly reduced its operations in Israel by moving its research and development center abroad and canceling planned investments in the country.
This led to the layoff of around 400 employees in Israel – the company’s largest workforce in Israel – the reports said.
Earlier, the US insurance company Asurion announced that 120 employees would be laid off as part of the closure of its development center in Israel.
In addition, another 40 employees will be laid off by the end of the year.
In the year In 2013, Assurion acquired Israeli startup Soluto – previously owned by Naftali Bennett, who later entered politics and served as prime minister from June 2021 until last month.
Isaac Haviv, Principal Scientist at Aid Genomics with a colleague (courtesy of Aid Genomics)
A Soluto employee told Khan Public Broadcasting that everything was going well and that the company was hiring as recently as a week ago.
“It really came as a total shock. It was amazing. This was simply an American decision, the site was successful. Even the top management [of Soluto] He was surprised.
With high wages and exorbitant benefits, Israel’s high-tech sector has been breaking records in recent years, despite some observers predicting a market bubble due to investment frustrations and sky-high valuations.
According to Khan, more than 3,000 high-tech workers have been laid off since March, half of them this month.
According to Channel 12 News, citing the above figures, 2,800 workers lost their jobs in the last two months alone.
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