Moovit, the online travel app for public transport, was acquired by Intel Corporation four years ago. Recently, the company replaced its CEO and has announced the dismissal of 10% of its employees. The news of the layoffs was reported on Sunday, June 16, by the ITV Channel 12 news service.
The furloughed employees received notices of the impending layoffs on Sunday. Approximately 20-25 employees, out of a total staff of 225 people, are affected by this first wave of layoffs at Moovit. The company was sold to Intel in 2000 for a billion dollars, marking one of the largest Israeli app exits in history.
In light of the recent changes at Moovit, the company is restructuring its workforce. This is a significant development in the company’s history and could potentially have a lasting impact on its operations moving forward. The layoffs come after a series of major changes within the company, indicating a period of transition and adaptation for Moovit in the competitive landscape of the online travel industry.