Redis Cuts 25% of Staff at Israeli Development Center Amid AI Shift

Israeli tech company Redis is laying off approximately 25% of its workforce at its local development center, which employs around 300 people. This move is part of the company's adjustment to the adoption of artificial intelligence tools, which is reshaping its staffing needs. Despite the reductions, the Israeli center is expected to remain Redis's largest and most central development hub, alongside other centers in the United States and Bulgaria.

Founded in 2011 by Ofer Bengal and Yiftach Shoolman, Redis has grown into a prominent cloud company specializing in database management. In 2022, Bengal stepped down as CEO after leading the company since its inception and became chairman, while Shoolman transitioned to a non-executive role on the board. Over the years, Redis has raised approximately $350 million in funding.

The company's last public funding round was in 2021, during a peak period for the local tech sector, when it secured $110 million led by SoftBank's Vision Fund and Tiger Global, valuing the company at $2 billion. At that time, Redis was considered a strong candidate for a Wall Street IPO, which has yet to materialize.