Israeli information security giant Cyberizen announced a huge wave of layoffs: 200 employees

The Israeli information security giant Cyberizen announced Wednesday a huge wave of layoffs, during which it will part with about 200 employees, which make up about 14% of the 1,400 employees remaining after a previous wave of layoffs that were announced only last summer, bringing the total reduction in personnel to 20 % - i.e. a fifth of the employee status - within five months.
About 50 of the 200 laid off are at the company's Israeli headquarters, while the majority are at its headquarters abroad, which include the USA, Great Britain, Germany, Japan, and France.
The company was established in 2012 and provides technology for managing cyber incidents while concentrating all the information from different systems to avoid excessive "dispersion" of preventing hacking incidents and handling them when they happen. In its ten years of existence, it raised over 700 million dollars in 7 rounds, the last of which was exactly a year ago, when it raised 50 million dollars from Google's investment fund. In January, it presented a plan for an IPO on Wall Street, but a few days ago the American website The Information reported that the company canceled the IPO plans it disclosed in January and hired the services of the financial services giant JP Morgan Chase to search for a buyer for the company.
The company told the ice website that "This is a difficult decision for us, and we are making every effort to assist employees in the process and further along their path. Since market conditions have changed significantly and the technology IPO market is actually closed, companies like us must exercise strict financial discipline and prioritize financial efficiency over growth. The demand Our technology remains high, and we continue to build an independent global company with long-term strategic goals." This is actually a repetition of the words of the CEO, Lior Div, last summer.

Veteran fintech unicorn Fundbox has laid off 40% of its employees. Out of 360 employees in the company, 150 employees were laid off - half of them in Israel and the rest in the United States.
The layoffs at Fundbox come after two difficult days for Israeli high-tech, during which we reported here on the layoffs of 14% of the workforce of the unicorn Snyk, on the layoffs of 62 employees at the Orcam company, and on the layoffs of 40% of the employees of the Antidote company.
Fundbox was founded in 2012 by Eyal Shanar (former Vice President of Battery Ventures), Tomer Michaeli, and Yuval Ariab, who are no longer active in it. The company provides credit to small and medium businesses based on unpaid invoices. About two years ago, Prashant Floria - a former executive at Yahoo, Facebook, and Google - took the chair of the company's CEO.
The company has so far raised about 553 million dollars (some of it in the form of debt), of which 100 million dollars in the latest fundraising brought the company to the value of a unicorn. At the time, it even reported that it crossed the $100 million mark in ARR.
In a letter issued by CEO Prashant Floria to the employees, he wrote: "As part of a reorganization, we are reducing our workforce by approximately 40% and saying goodbye to valued team members throughout the company. This is a very painful change, especially for co-workers who are directly affected. However, this is a necessary step to strengthen our business foundations so that we can carry out our mission - to help small business owners with their financial needs."
Later, the CEO explained the background to the move. "Since macroeconomic trends continue to affect the economy of small businesses, we are also facing a substantial business headwind," he explained. "It is clear that these economic challenges will last longer than we initially expected. Our business has grown rapidly over the last two years and we have grown our team accordingly, but the truth is that we have grown our team too fast and we need, of course, to correct this. Although we have more than $100 million in liquidity we must also be careful managers of investors' capital. Returning our workforce to pre-pandemic size will strengthen us financially as we work towards becoming a profitable business - which we are not today."