Major Israeli firms Playtika and Wix have both been forced to make major cutbacks recently. Playika has shuttered its subsidiary Israeli studio Jelly Button entirely, reported Calcalist. And Wix is laying off another 370 employees. The moves come as the world is still grappling with a global financial crisis.
Most of the Wix employees being let go work in the US in customer service fields. This is the firm’s second round of layoffs in just the past six months. Last August Wix let go of 100 people. And last June it fired a few dozen more.
Founded in 2006, Wix.com is the do-it-yourself website building platform that gives users total creative freedom online. The company boasts that with “powerful technology” and “unparalleled design” capabilities, you can create a beautiful, professional and functional web presence to manage and grow your business. The Wix Editor gives you full design freedom with over 500 designer-made templates to make your own website.
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This news comes just one month after Playtika made a move on the company behind the worldwide popular game “Angry Birds” video game Rovio. Playtika has offered to pay 60% above market value for Rovio stock at €9.05 ($9.95) per share for a total of €690 million ($738 million) in cash.
Playtika was founded in 2010, by Robert Antokol and Uri Shahak (the son of former Chief of Staff of the Israel Defense Forces and Israeli Minister Amnon Lipkin-Shahak). Robert Antokol still serves from the beginning as CEO, and chairman since June 2020. The company currently has a market cap of almost $3.5 billion. This is way down of its one-time $11 billion valuation.
Founded in 2011, Jelly Button calls itself the “playground for passionate game-designers who want to break the limits of casual gaming and delight players.”
Playtika acquired Jelly Button in 2017.