Israeli Video Tech Firm WSC Sports Cuts 10% of Workforce After World Cup

WSC Sports, an Israeli video technology company based in Ramat Gan, is conducting layoffs affecting approximately 10% of its workforce, which totals around 680 employees. Over 60 employees, mainly from the company’s development center in the One Tower near the Ramat Gan stock exchange, have been called for hearings as part of this reduction. Despite providing automated sports highlight systems for the recent World Cup and several international clients, WSC stated that the layoffs are not related to the tournament’s conclusion and are part of a broader organizational restructuring rather than targeting any specific department or product.

The company did not disclose the reasons behind the layoffs and did not comment on the potential impact of artificial intelligence tools or currency fluctuations on this decision. WSC described the move as a "complex and painful but necessary decision" to enable continued growth and investment in strategic areas. Founded in 2011 by Daniel Shichman, Chai Gal, Shmulik Yoffe, and Aviv Arnon, WSC Sports has raised approximately $150 million in funding, including a $100 million round in 2022 valuing the company at around $700 million.

WSC’s flagship product automates the creation of sports highlight videos and facilitates their distribution across social media and apps, generating revenue through sponsorships and ads. Its clients include major sports networks and leagues such as ESPN, YouTube TV, the NBA, La Liga, the NHL, and the Australian Cricket League. The company employs 680 people globally, with 550 based in Israel and others in New York, Sydney, Thailand, China, and Japan. WSC emphasized its commitment to supporting affected employees with personal assistance and improved severance conditions during this transition.