Tidhar Announces Major Restructuring and Layoffs to Save NIS 30 Million Annually
Translated & summarized from Calcalist by baba
Israeli real estate firm Tidhar, led by CEO Uri Levin, is implementing a restructuring plan including layoffs to save approximately NIS 30 million annually. The company aims to optimize processes and reduce redundancies by merging divisions. This initiative follows a period of increased administrative expenses and a significant stock offering. Despite the cost-saving measures, Tidhar reported improved revenues and profits in the first half of 2026 across its main business sectors.
The story in 5 lines · by baba
- Tidhar is undergoing a restructuring and layoffs to save about NIS 30 million annually.
- The company aims to streamline operations by merging and consolidating divisions.
- CEO Uri Levin is leading the restructuring efforts.
- The move follows a period of increased administrative expenses and a recent stock offering.
- Tidhar reported improved revenues and profits in the first half of 2026.
The Israeli real estate company Tidhar, led by CEO Uri Levin, is initiating a significant restructuring plan that includes staff reductions. The company, which recently completed a large stock exchange offering, aims to streamline operations by merging and consolidating various divisions and units within its headquarters. Tidhar stated the goal of this reorganization is to "optimize work processes, reduce redundancies and personnel, strengthen control over the value chain, and enhance synergy between business areas."
Tidhar estimates that the completion of this restructuring will result in annual cost savings of approximately NIS 30 million. However, the company has not provided a specific timeline for the full implementation of these changes. As of the end of May, Tidhar employed 1,153 individuals, including 11 senior management and executive staff, and 160 headquarters employees in departments such as information systems, human resources, legal counsel, and strategy.
This move comes as the company's general and administrative expenses for 2025 totaled NIS 223 million, a 12% increase from 2024, representing 7.7% of its revenues. Salary and related expenses were the largest component, reaching NIS 105 million, a 25% rise. The planned NIS 30 million cut is expected to reduce these expenses by 3% compared to the previous year.
In the first half of 2026, Tidhar's general and administrative expenses decreased by 15% year-on-year to NIS 94 million, attributed to lower salary costs. These expenses constituted 6.4% of total revenues. The company also incurred NIS 56 million in bonuses and grants related to its stock offering, including stock options for several dozen mid-level managers.
Tidhar operates in execution, entrepreneurship, and income-generating sectors, all of which saw performance improvements in the first half of the year. Revenues from the main execution sector reached NIS 1.33 billion, a slight increase from NIS 1.28 billion in the same period last year. Entrepreneurship revenues surged by 34% to NIS 486 million, accompanied by an increase in apartment sales. Total revenues grew 4% to NIS 1.475 billion, and operating profit, excluding offering expenses, rose 21% to NIS 135 million. Net profit attributable to shareholders increased by 6% to NIS 74 million.
