Israeli Software Firm Redis Cuts 27% of Local Workforce Amid Leadership Changes
Redis, an Israeli software company, is conducting a significant round of layoffs in Israel, cutting approximately 80 employees out of its 300-strong local workforce, representing a 27% reduction. This marks one of the largest layoffs the company has implemented in Israel in recent years. The layoffs follow a period of leadership transitions and strategic shifts within the company.
Founded in 2011 by Ofer Bengal and Yiftach Shoolman, Redis no longer has its founders in active management roles. Bengal stepped down as CEO in December 2022 to become chairman, with Rowan Trollope appointed CEO in February 2023. Shoolman also left his operational role last year but remains on the board while launching a new startup.
Redis develops a database management platform based on the open-source Redis project, widely used globally. The company provides fast data access solutions for enterprise applications, competing with major cloud providers like Amazon, Google, and Microsoft. In 2021, Redis raised $110 million at a valuation exceeding $2 billion, following a $100 million round less than a year earlier, with investments from Tiger Global, SoftBank’s Vision Fund 2, and TCV. The company has raised about $350 million in total and reported rapid growth with over 8,000 paying customers, including more than 30% of Fortune 100 companies.
Since the leadership change, Redis has undergone strategic adjustments, including a controversial 2024 decision to switch from an open-source license to a more restrictive one, which sparked criticism and led to the creation of a competing project, Valkey. The company later reversed this decision, returning to open-source licensing after CEO Trollope acknowledged the damage to developer community relations.
In response to the layoffs, Redis stated it does not comment on rumors or speculation. The company had previously planned significant expansion and hiring in its Israeli development center but is now scaling back amid these changes.
