The online travel app for public transport, Moovit, was acquired by Intel Corporation four years ago. Recently, the company announced the dismissal of 10% of its employees. This news was reported by the website of the ITV Channel 12 news service on Sunday, June 16.
Two months ago, Moovit replaced its CEO. Now, furloughed employees at the company received notice of impending layoffs on Sunday. Approximately 20-25 employees, out of a total staff of 225 people, are expected to be affected by this round of layoffs. This is the first wave of layoffs at Moovit since its acquisition by Intel in 2000 for a billion dollars, marking one of the largest Israeli app exits in history.
The recent changes in leadership and now the announcement of employee layoffs indicate a period of transition and restructuring for Moovit. This news comes amidst other updates from various sources and platforms online that showcase the evolving landscape that Moovit finds itself in. With a history of significant acquisitions and developments, it will be interesting to see how these changes impact its future trajectory.
