Israel's high-tech industry, the growth and export engine of the country's economy, is going through difficult times. Statistics indicate that more and more start-up companies find it hard to raise funding, while older companies are cutting personnel.
lastartup website, which monitors the Israeli high-tech industry, reports that from March 2022 until the beginning of the current month, over 5,700 employees lost their jobs. 15% of those laid off were employed by cybersecurity companies, 12% by SaaS companies, 10% content and media and 9% fintech.
