Third Layoff Wave: Israeli Company to Cut About 20% of Its Workforce

In depth

Innoviz, based in Rosh HaAyin, announced layoffs of about 20% of its workforce, which may include more than 70 employees. Estimates put the total at about 90 employees. This is the company's third layoff round in the past three years.

The company's previous layoff round, early in 2025, included cuts of 9% of its workforce. According to reports, delays in the adoption of autonomous driving technologies by carmakers led to delays in the publication and closing of tenders in the field. In early 2024, dozens of employees were laid off, amounting to 13% of the workforce.

The company cut its 2026 revenue forecast from about $70 million to $44 to $46 million, following a one-year delay in the launch of a model by one of its major customers. Following the announcement, the company's shares fell 30% in trading on Wall Street. The company expects savings of $17.5 million a year.