Layoffs exceed 6,500 as Israeli tech firms downsize

Published date21 November 2022
Publication titleGlobes (Rishon LeZion, Israel)
Habib-Allah would be an ideal job candidate in normal times. A Technion graduate in Computer Science, he worked for cybersecurity company Imperva for several years. He is an entrepreneur who in the past has founded two startups that didn't succeed and now there are few available jobs in his field. "Until now my career has been on an upward trajectory," he laments

"I received good evaluations and a salary increase, including recently," he recounts. "Up until a year ago, I would receive two enquiries from recruiters every week, so that I would be interviewed by companies. I agreed to one of the offers and that's how I ended up at the last workplace where I was employed, back in May. Now when I get calls from recruiters, it feels like it is mainly done to keep me on one list or another for better times. The companies are wrong about implementing the current wave of layoffs - after all, their biggest asset is their people. I would understand more if they cut salaries temporarily, but instead what is happening is that a mass of layoffs has been created here."

Hila (not her real name) was recently fired by NCR's Israel development center (formerly Retalix). She recalls, "We got a message in an unpleasant way: they brought us all together and announced that there was going to be a wave of layoffs, but then they asked us to wait for a special email that would inform everyone personally whether they had been fired. And not only that, we were then given the choice between leaving now or staying until the end of the year to transfer all the data we have accumulated to date to a development center they have set up in India."

The market is not what it was several months ago

So far Hila has struggled to obtain job interviews. "I have never been fired for professional reasons, and I have always received excellent evaluations. But the market today is not what it was just a few months ago," she says. "Companies are waiting on their budgets, and the feeling is that they don't want to hire, at least not until the start of 2023. There are a lot of jobs on websites and networks - but you understand that these are ghost jobs. Those that have not been closed, or those that are always advertised, to save cvs for better times."

Danit Aharonov-Almadon, 28, who grew up in Silicon Valley and immigrated to Israel as a child, has been fortunate in her career. She became the first human resources manager to be laid off in the current crisis but has since successfully found a new job...

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