PayPal to Lay Off 20-25% of Israeli Workforce
Translated & summarized from Haaretz by baba
PayPal is laying off 20-25% of its employees in Israel. The article also notes other Israeli tech news, including layoffs at SanDisk and significant funding rounds for several startups.
The story in 5 lines · by baba
- PayPal is reducing its Israeli workforce by 20-25%.
- SanDisk will also lay off dozens of workers in Israel.
- Several Israeli tech startups announced substantial funding rounds.
- Avigdor Willenz's startup raised $1.6 billion.
- Wonderlap secured $550 million at a $5 billion valuation.
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.
