Fintech company Bluevine laying off 12% of Israeli workforce
Fintech company Bluevine laying off 12% of Israeli workforce
“Israel remains and will continue to serve as Bluevine's R&D center,” the company said in response
Fintech company Bluevine is laying off around 20 employees in Israel, which accounts for about 12% of its local workforce.
Bluevine, founded in 2013, provides an all-in-one digital banking platform specifically designed for small businesses. The company is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft’s Venture Arm).
The company stated: "Bluevine continues to grow and develop its banking platform for small businesses in the U.S. and realizes its long-term strategy. However, from time to time, it is necessary to adjust priorities to ensure continued optimal response to changing market needs and ensure long-term success. These changes include personnel adjustments aligned with the company's business strategy and priorities, such as personnel transfers between departments and job eliminations. While we regret this decision, it necessitates parting ways with approximately 12% of our employees in Israel. Israel remains and will continue to serve as Bluevine's R&D center. In fact, we are actively recruiting for open positions in Israel. The company remains a leader in its field, financially stable, and we are confident in its continued success."
