PayPal to Lay Off 20-25% of Israeli Workforce
PayPal is implementing significant layoffs, cutting between 20% and 25% of its workforce in Israel. This move affects a substantial portion of the company's employees in the country.
The article also mentions other business developments, including SanDisk planning to lay off dozens of employees in Israel. In contrast, the startup founded by Avigdor Willenz announced a major funding round, valuing it at $1.6 billion. Additionally, the Israeli company Wonderlap raised $550 million, increasing its valuation to $5 billion, and Aitan, a developer of drone and robot control systems, secured $41 million in funding.
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