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Tidhar Announces Layoffs and Restructuring Four Months After IPO
Real estate developer Tidhar announced a headquarters restructuring including layoffs and division mergers, aiming to save NIS 30 million annually. The move follows the company's IPO four months ago, after which it paid out NIS 56 million in employee bonuses.
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What happened
- 01Tidhar announced a headquarters restructuring involving layoffs and division mergers.
- 02The company expects the restructuring to save approximately NIS 30 million annually.
- 03The changes come four months after Tidhar's initial public offering in June.
- 04Tidhar awarded employees about NIS 56 million in bonuses following the IPO.
- 05CEO Ori Levin described the decision to part with employees as difficult.
CEO Ori Levin called the decision difficult but necessary for strategic implementation.
The coverage
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