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SodaStream, the Israeli home carbonated drink machine maker that became a household name around the world, has been forced to make further cutbacks and is letting go of as much as 3% of its workforce. And Anodot, an Israeli startup offering business monitoring services is set to part with 20% of its workforce.
The hits keep on coming for Israel Startup Nation. Just the other day three other firms – Earnix, Selina and Karma, all revealed that they are having trouble making layoffs. And in the case of Selina, the company has lost 90% of its value.
Founded in 2014, Anodot says it is the business monitoring company that eliminates business blind spots by proactively monitoring business metrics, enabling companies to protect revenue, manage costs, and improve customer experiences. Leveraging AI and ML, Anodot boasts that its augmented analytics proactively alerts companies to revenue-critical business incidents and automates their remediation in real time. The company’s Cloud Cost solution provides accurate monitoring and forecasting as well as savings recommendations that cut up to 40% on annual cloud spend. Anodot is trusted by numerous Fortune 500 companies to help slash time to detection and resolution for revenue-critical issues by as much as 80%. The company is headquartered in Ashburn, Virginia and Ra’anana, Israel, with sales offices worldwide.
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“We want to achieve financial independence,” said Anodot CEO David Drai. “Unfortunately, we are forced to respond responsibly to the situation in the global market by immediately reducing personnel and becoming more efficient. Last year, Anodot made a decision to move to financial independence and profitability, and it is doing so while maintaining the right balance between innovation and sales, without compromising for a moment on the quality of service to our customers. We feel a great responsibility to the employees who are leaving and are doing everything in our power to help them find their next workplace.”
As for SodaStream, that company will now be making its third round of layoffs in the past 18 months, during which time 420 people lost their jobs.
SodaStream said, “In recent years, SodaStream has increased the size of its workforce in order to respond to the growth that has supported the company for a long time, and even more so during the Covid period. Since the decline of the Covid pandemic, and with the worsening of the global economic situation, there has been a worldwide weakening trend in demand for small household consumer products, such as SodaStream. Current production forecasts reflect this trend and a return to previously known demand levels.
“The current workforce reduction, amounting to approximately 3% of the company’s total employees, is a continuation of previous cuts and part of the overall streamlining plan formed by the company due to the aforementioned changes.”
