The company SynaMedia (SynaMedia), formerly NDS, which develops technologies in the field of streaming, video and television, announced a wave of layoffs of about 200 employees, which constitute about 12% of the company’s workforce.
From the company’s development center in Jerusalem, where about 400 employees are expected to be laid off, about 50 will be laid off. The round of layoffs joins a previous round of layoffs that the company conducted in 2022.
The company was purchased in 2012 by the information technology giant Cisco for $5 billion. Additionally, in 2018, the Permira Foundation purchased Cisco’s video operations, which includes NDS and other groups – and turned it into Cinmedia.
The company stated: “For the past two months, Cinemadia has been in the process of restructuring around product strategies and the demands of the video market in which it operates. The process is also affected by the fluctuations of the world economy. As part of the process, we have reduced the global workforce by approximately 12%. Cinemadia Israel continues to be a center for development Central innovation and security, led by Abigail Gutman, head of Cinmedia Israel and vice president for intelligence and security, and Dr. Zvi Gerstel, global senior vice president of Cinmedia for research and development.”
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