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Tech Crisis 2022

20 stories about Tech Crisis 2022
גיל ברנדס

Stability in times of upheaval – A challenge Israel's high-tech industry can meet

29.06.22|Gil Brandes and Gil Somech
“During the period of instability Israeli entrepreneurs might tone down their desire to build a company for the longer run and "go all the way" as an independent company – and we may again see multiple smaller exits in the range of tens of millions and less in the hundreds of millions,” write Gil Brandes and Gil Somech of Naschitz Brandes Amir
ליאור סוסן ברייט משינס

Bright Machines lays off 30 employees in Israel

28.06.22|Meir Orbach
The American company develops software-defined autonomous manufacturing lines for industry and has an R&D and operations center in Kibbutz Yakum in Israel’s Sharon region
מטה עליבאבא בייג'ינג

Alibaba closes R&D center in Israel, lays off entire staff

27.06.22|Meir Orbach
Around 50 employees were notified on Sunday that they will be laid off after the Chinese e-commerce giant decided to shut down local development
סטרים אלמנטס StreamElements

StreamElements to lay off 20% of employees less than a year after raising $100 million led by SoftBank

26.06.22|Meir Orbach
The company, which provides engagement and monetization tools for live and VOD content creators, joins Cybereason and Trax on the list of Israeli SoftBank-backed startups making cuts
Airspan Networks איירספאן ישראל איירפורט סיטי

Airspan laying off 35 employees in Israel

22.06.22|Meir Orbach
The U.S. company announced just four months ago that it plans on recruiting dozens of additional employees in the country
מימין יואל בר אל דרור פלדהיים חברת Trax טראקס טרקס

Retail analytics unicorn Trax to lay off over 100 employees

20.06.22|Meir Orbach
“We still have a lot of money in our account from last year’s funding round, but we are required to reach profitability faster than we had planned,” said Trax co-founder and Executive Chairman Joel Bar-El
נדב שובל על רקע לוגו OpenWeb

Unicorn OpenWeb undergoing organizational change, management to move to US

15.06.22|Meir Orbach
The company, which has developed technology to improve online discourse, joins the wave of layoffs in high-tech, with 14 R&D employees - about 10% of the workforce, to leave. At the same time, OpenWeb will hire other employees in the US
יוני לוקסנברג מנכ"ל אלמנטור

Elementor laying off dozens of employees

15.06.22|Meir Orbach
The total number of staff members that will be leaving the company is estimated to be around 50-60, most of them from the marketing department
cyber

Offensive cyber company ACE Labs closing down

14.06.22|Meir Orbach
The company employed several dozen employees who will all be fired after parent-company Cognyte decided to shut it down as it failed to generate significant commercial activity
מטה אינטל ב קליפורניה

Intel freezes hiring in PC chip division

09.06.22|Reuters and Raphael Kahan
Intel told Calcalist that its growth plans in Israel, including the building of a new $10 billion manufacturing center in Kiryat Gat, opening a campus that will house 6,000 engineers in Haifa and setting up a new R&D center in Be’er Sheva, remain unchanged
Anna Moshe

Fundraising replaces hiring as most pressing startup challenge, says report

09.06.22|CTech
According to a report by data sharing platform Startup Snapshot, 74% of founders are reporting that they are worried about their ability to raise their next round of funding
שלמה דוברת שלמה דברת קרן ויולה

“There will be layoffs and cutbacks in high-tech and that is a good thing,” says Viola Ventures co-founder

08.06.22|Adrian Filut
Shlomo Dovrat, who was speaking at the annual Aaron Institute for Economic Policy Conference at Reichman University, added: “There will be somewhat of a slowdown in growth, sales, and export, but there won’t be unemployment”
ג'ף הורינג מייסד ושותף מנהל ב קרן אינסייט האמריקאית

Insight Partners’ Jeff Horing vows to support companies during crisis

02.06.22|Meir Orbach
Horing highlighted the crisis as an opportunity for growth during a video call with entrepreneurs and CEOs of Israeli companies in which his venture capital fund has invested
מייסדי סייבריזן Cybereason מימין יוסי נער ליאור דיב ו יונתן שטרים עמית

Cybereason laying off 100 employees in Israel, U.S. and Europe

01.06.22|Meir Orbach
Earlier this year, Cybereason, which is backed by SoftBank's Vision Fund 2 and former U.S. Treasury Secretary Steven Mnuchin's investment firm, confidentially filed for a U.S. initial public offering that could value it at more than $5 billion
רוברט אנטוקול מייסד ומנכ"ל פלייטיקה

Playtika to lay off 250 employees in North America and Europe

31.05.22|Meir Orbach
The gaming giant is looking to consolidate some of its activities and therefore decided to close its R&D centers in London and Montreal, and to transfer the activity of its Los Angeles studio to Israel and Poland
יובל טל מייסד פיוניר

"There won’t be any unemployed in high-tech, there will be demand for everyone"

31.05.22|Meir Orbach
Yuval Tal, managing partner at Team8 and local fintech leader, is convinced that "the crisis will give birth to better companies, as in 2008 and 2001"
LACEWORK _alt BOLT

Cutback nation: Who’s afraid of layoffs?

31.05.22|Sophie Shulman
Mass layoffs at American unicorns Lacework and Bolt signals the hysteria that could turn out to be excessive and harmful in the venture capital industry. This panic could also spread to Israel and hurt companies whose situation is not necessarily bad
דרור בין מנכל רשות החדשנות

“The prophecies on the downfall of the high-tech industry are out of control,” says Innovation Authority CEO

30.05.22|Meir Orbach
“The industry doesn’t need saving,” says Dror Bin, the CEO of the Israel Innovation Authority who believes that local high-tech is strong enough to survive the oncoming crisis
מוסף עצמאות 14.4.21 אסף רפפורט מייסד Wiz

Assaf Rappaport: "Anyone who thinks that salaries in high-tech will fall is wrong"

29.05.22|Meir Orbach
The CEO of cybersecurity company Wiz, which is valued at an estimated $6 billion, manages to remain optimistic even in light of the crisis plaguing high-tech. "There will be no drop in demand for workers and there will be no pay cuts," he estimates. "Israeli high-tech will not disappear because the talent here is among the best in the world"
בורסה וול סטריט ניו יורק

Israeli high-tech has plenty of reasons for optimism, even in difficult times

29.05.22|Meir Orbach
Israel has built a backbone of dozens of healthy growing companies who are capable of emerging from this crisis stronger than ever
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