News: Anodot implements second round of layoffs, cuts 20% of team

Strategic HR

Anodot implements second round of layoffs, cuts 20% of team

After previously laying off 35 employees in July, the Israeli business monitoring startup is now separating from approximately 15 out of its 80 employees.
Anodot implements second round of layoffs, cuts 20% of team

Anodot, the business monitoring company, is undergoing its second round of layoffs within the past year, resulting in a 20% reduction of its workforce. 

Approximately 15 employees out of a total of 80 will be departing the company. Last July, Anodot had previously let go of 35 employees, constituting around 27% of its workforce at that time.

Anodot, a company that utilises unsupervised machine learning to monitor an organisation's business metrics and provide proactive alerts regarding potential issues, was established by entrepreneurs David Drai (CEO), Ira Cohen, and Shay Lang.

"We want to achieve financial independence. Unfortunately, we are forced to respond responsibly to the situation in the global market by immediately reducing personnel and becoming more efficient. Last year, Anodot made a decision to move to financial independence and profitability, and it is doing so while maintaining the right balance between innovation and sales, without compromising for a moment on the quality of service to our customers," said the company's CEO David Drai.

“We feel a great responsibility to the employees who are leaving and are doing everything in our power to help them find their next workplace,” he added. 

Established in 2014, the company has successfully secured a cumulative funding amount of $62.5 million from various notable investors. 

These investors include Intel Capital, SoftBank Ventures Asia, Samsung NEXT, Redline Capital Management, Aleph Venture Capital, Disruptive Technologies Venture Capital, and La Maison.

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Topics: Strategic HR, #Layoffs, #HRTech, #HRCommunity

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