WSC Sports to lay off over 60 employees
Israeli video technology firm WSC Sports is laying off 10% of its workforce, affecting over 60 employees. The company stated the move is a strategic decision to support future growth, despite its previous high valuation and strong client base.
Why it matters
The layoffs highlight the ongoing volatility in the tech sector, even for established companies that have secured significant venture capital funding.
Israeli video technology company WSC Sports is laying off 10% of its workforce of an estimated 680 employees. The company, which provides systems for automatically creating short highlight clips of matches, will summon over 60 employees to a hearing, most of them at its development center in the One Tower in the Ramat Gan Diamond Exchange district.
During the recent World Cup, WSC provided Israel’s KAN Channel 11 with a system for creating short highlight clips of each of the matches, as well as to other foreign channels. But the company insists there is no connection between the move and the end of the tournament last Sunday, and stresses that this is a cross-functional move that does not concern a specific department or product.
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