Live Update 
From the Liveblog of
Tuesday, August 9, 2022
From the Liveblog of
Tuesday, August 9, 2022
2 tech firms fire dozens of Israeli employees
Add ToI as a Preferred Source on GoogleIsraeli website-building platform Wix has announced it is firing some 100 employees, amid a wave of layoffs in the usually lucrative tech sector.
Some of the workers being let go are abroad, but many are in Israel.
Dozens of Israeli workers are also being let go from Kaltura, a New York-based cloud video company.
The country’s most successful sector has lost thousands of workers in recent months amid the global economic downturn.
With high salaries and exorbitant perks, Israel’s tech sector has been breaking records in recent years, though some observers have warned of a bubble in the market, given the investment frenzy and the sky-high valuations.
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