888 Group is implementing job cuts in Israel as part of a global restructuring strategy. Affecting a substantial number of employees in the region, the decision is a continuation of the company’s efforts to streamline operations and focus on its most profitable areas.
With a global workforce of 11,000, including 500 in Israel, 888 Group is facing significant operational changes. This latest round of job reductions adds to a trend of workforce downsizing among high-tech firms in Israel, attributed to various factors including regional challenges and economic pressures.
A spokesperson for 888 Group shed light on the situation, stating that these layoffs are a necessary part of the company’s larger restructuring plan. This strategy is aimed at aligning the company with its long-term goals and ensuring sustained success. The spokesperson emphasized the commitment to support those affected during this transition.
“Unfortunately, some of our positions in Israel have become redundant,” the 888 Group statement read. “We will offer our full support to those colleagues who were affected by the move.”
This is not the first instance of job cuts at 888 Group; exactly a year ago, the company reduced its workforce by nearly 100 from 590 employees. These decisions, according to the company, are responses to an increasingly challenging business environment, with the aim of cutting costs across all branches. The Group has not disclosed any plans for further layoffs.
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