Software giant Amdocs is on the verge of laying off thousands of employees - hundreds of them in Israel.
According to a report today (Thursday) in Kan News, the move was made as part of the company's streamlining efforts. The numbers are not yet final, but estimates suggest that this represents 7 percent of the company's 29,000 employees worldwide.
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Amdocs said: "Amdocs' new leadership is currently leading a broad process to redesign the company's operating model, as part of its preparation for the next stage in market development and to strengthen its global leadership. As part of this process, the status and strategic importance of its operations in Israel are also expected to be strengthened. Naturally, at this stage, it is not possible to address concrete details, as some of the processes are still in the examination and formulation stages.".
The CEO and founder of the Israeli company Wix, Avishai Avrahami, also announced today to employees his intention to lay off 20% from the company's workforce.
In a letter to employees, Avrahami explained that the increasing use of artificial intelligence and the strengthening of the shekel against the dollar are the main reasons for the wave of layoffs.
It is estimated that about 1,000 employees will be laid off.
