Redis Cuts About 70 Jobs in Israel but Plans to Strengthen Local Development Center

Redis, the data platform unicorn, is laying off approximately 70 employees in its Israeli development center in Tel Aviv. This reduction represents about 5% of the company's global workforce of 1,300 and roughly 23% of its local staff of 300. Despite these layoffs, Redis has no plans to close the Israeli center and intends to strengthen it going forward, having recently leased office space in Israel for the next decade.

Founded in 2011 by Ofer Bengal and Yiftach Shoolman, who are no longer active in the company, Redis is currently led by CEO Rowan Trollope since 2023. The company develops a high-speed, in-memory data platform used for real-time information management. Its open-source Redis software is popular among developers, while its commercial product, Redis Enterprise, supports critical applications for many leading global companies.

Redis counts among its clients eight of the world’s ten largest companies and over half of the top 100 global firms. The company has raised $357 million in funding to date and reported an annual revenue run rate of $300 million earlier this year. When approached for comment, Redis declined to respond to rumors and speculation about the layoffs.