Fairbloks, an Israeli company, launches a third round of layoffs

In depth

Israeli fintech company Fairbloks is laying off about 7% of its workforce as part of a structural change. According to Globes, this is the company's third layoff round in recent years, following cuts in 2023 and 2024. According to Bizportal, about 60 to 70 employees are affected, dozens of them in Israel.

According to Calcalist, more than 60 employees from Israel and around the world will be laid off. According to Globes, the company's management wrote: "A difficult but necessary decision." The cuts come a day after reports of talks to sell the company to Visa at a $2.5 billion valuation, which Fairbloks denied according to Calcalist.