Bizzabo fires 30% of its employees, 35 of them in Israel

The Israeli company that developed technology for conferences and business events is laying off 120 of its 400 employees worldwide

The Israeli company Bizzabo is laying off about 120 employees out of its 400 employees. Of those fired – 35 in Israel. Against the background of the layoffs, a reorganization process that the company began in order to ensure compliance with the goals and improve its profitability. The dismissals are from all the company’s departments, and the decision was made as part of preparations for a long period of cooling and uncertainty in the market.

The layoffs come after Bizzabo has made a number of strategic acquisitions in the past two years and has grown significantly in a bid to advance the products and technology it has developed for experiences at conferences and business events. In December 2020, the company raised $ 138 million In round E. the investment was led by the Insight Partners fund and was attended by the Viola Growth fund, the Siemens Next47 fund and the OurCrowd fund. A large part of the investment was in Scandry.

“This is one of the most challenging moments we have faced since the company’s inception,” says Eran Ben-Shoshan, CEO and founder of Bizabo. “The decision was difficult, but it is the right one for Bizabo’s employees, customers and shareholders.” Bizzabo said it would help departing employees find new opportunities to continue on their way, as part of that, put together a human resources team dedicated to this task. The company will provide benefits of increased compensation, about two weeks at the expense of the employer and another week for each year of seniority. In addition, it will continue to provide them with professional and psychological support, which the company has been offering its employees since the Corona period.