Dr. Hedva Ber, deputy CEO of eToro and a former supervisor of Israeli banks, warned at Calcalist and Migdal’s “Future of Finance” conference that Israel’s high-tech sector is at risk of leaving the economy under the current exchange rate. In an interview with Calcalist reporter Sophie Shulman, she said that without a major policy shift and a change in the shekel’s value, Israel could see a wave of layoffs and job cuts amounting to roughly 25% to 30% of the industry within six months to a year. She added that, for the first time, a development worker in Israel is now more expensive than one in the United States, calling that a sign of serious danger.
