Namogoo Cofounder Ohad Greenshpan CTO-left-Chemi Katz CEO (company Photo: Efrat Sa’arright)
Namogoo, an Israeli company that offers a Digital Journey Continuity platform, is yet another example of an Israel Startup Nation firm forced to make cutbacks because of the worldwide financial crisis. Namogoo laid off about 25% of its workforce, or 25 people, mostly in Israel, according to a report in Calcalist. This comes at the same time that the more established Israeli food company Strauss Group is also making cutbacks of its own.
This makes five Israeli companies that have revealed they needed to fire employees so far in November alone. The others include Varonis, an Israeli cyber security company that is publicly traded on the NASDAQ, and Checkmarx, an Israeli cyber security startup and a unicorn.
Strauss Group is letting go of as many as 150 people, but these are mostly administrative and front office workers and not people who work at the blue collar jobs in the company’s factories. The layoffs are part of a new restricting plan that Strauss Group is calling StraussONE. The plan, says Strauss, will save the company as much as NIS 80 million annually.
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Strauss Group is an international corporation with a portfolio of four companies and offers a wide range of Food & Beverage brands. The Group has 15,000 employees worldwide, is active in more than 20 countries. The group’s sales totaled NIS 8.7 billion ($2.5 billion) in 2021. Strauss has collaborations with Danone, PepsiCo, Haier and Virgin.
Outgoing Strauss Group CEO Giora Bardea explained that the StraussOne plan is intended to, “advance sustainable growth that will be achieved by focusing investments in selected geographies in which we will continue to develop a competitive advantage, launching new business models, expanding current partnerships, continuing to invest in foodtech, and building excellence in our core areas.”
As for Namogoo, the firings come just 6 months after the company raised $14 million. The company has raised $81 million to date.
Founded in 2014, Namogoo calls itself the world’s first Digital Journey Continuity platform, “shaping the customer journey to fit each and every shopper’s needs while making any distractions disappear.” Namogoo’s platform autonomously adapts to each customer visit in real-time, keeping the journey flowing right on to its destination.
