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Economy11:59 · 23m ago

Foreign Tech Firms Cut 4,400 Jobs in Israel Amid War and Weak Shekel

By עמרי זרחוביץ'
Translated & summarized from TheMarker by baba
The story · English

Foreign high-tech companies operating in Israel are projected to cut approximately 4,400 jobs in 2025, a significant reduction attributed to the ongoing war and a weakened Israeli shekel. This trend indicates a potential slowdown in the sector's growth and hiring.

The economic pressures, including the war's impact and currency fluctuations, are forcing these multinational corporations to reassess their workforce needs within Israel. While the exact reasons for each company's decision may vary, the overall sentiment points towards a more cautious approach to employment in the Israeli tech landscape.

This development contrasts with previous years where Israel's vibrant tech ecosystem attracted substantial foreign investment and job creation. The current situation suggests a shift in global economic priorities and a re-evaluation of operational costs by international firms.

Read the original at TheMarker
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