More layoffs: Gong lays off 7% of the workforce – 80 people will go home

More layoffs: Gong lays off 7% of the workforce – 80 people will go home

The Israeli software company Gong, which provides software as a service based on artificial intelligence for analyzing the activities of salespeople, announces that it is cutting about 80 jobs (about 7% of the total workforce) from the sales teams, customer success and administration positions.

In doing so, Gong joins many technology companies in the high-tech world in the world and in Israel that are forced to lay off employees after two years in which these companies enjoyed handsome profits and high recruitments that gave them inflated values. Gong raised about $250 million in June 2021 at a valuation of $7.25 billion. In August 2020, the company raised 200 million dollars.

CEO of the company, Amit Ben Dovwrote to the employees: “I know this decision hurts. It’s the hardest decision I’ve had to make at Gong. The gangsters we’re parting with, they’re not just teammates, they’re friends. We help them with A comprehensive compensation package and allocated resources to help them during the transition.

“While we expect to grow this year and continue to see a nice addition of new clients, our growth will be at a lower rate than we have planned and recruited for in recent years. We need to adjust the size of our team to the actual expected growth. This is a difficult decision, so we did not rush to implement it. We took the approach of “wait and see” for the possibility that we may not have to. It is difficult to predict the market in the coming year, but our planning assumption is that the macro environment will continue to affect our customers, our partners and also us. As a result, we have to reduce the size of our team in some areas.

“The purpose of the change is to adapt our company and place us in the best setup to succeed in the years to come. We are not reducing an equal percentage across the company. We are not reducing the development, product (located in Israel) or marketing departments, as we will continue to increase our product advantage and strengthen our leadership our market”.

Magong said: “We made a difficult decision to reduce our staff by 80 jobs (about 7% of the total workforce) in the areas of customer success, sales and general positions and administration. Accordingly, in Israel we reduced about 5 jobs in general positions and administration. We are grateful for the contribution of these employees in building the company and their commitment to our mission.”

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