As fighting between Israel and Hamas raged over the past week, Israeli tech companies had one of their best runs ever with four IPOs and one acquisition according to the Wall Street Journal. Nevertheless, Yifat Oron, chief executive of Leumitech, a subsidiary of Bank Leumi, Israel’s largest bank, was quoted as saying:
“Young startups have had as much as 25% of their employees on reserve duty.”
Racheli Levkovitch, vice president of sales and business development at mobile-app creator Zuznow Ltd., commented:
“Many things slowed down—not just because of us but also because of missing employees in other companies, and if the delivery of a project is postponed, so is the payment… It’s not just the missing employees or the sirens. Morale is low. This is true for me also, and I am one of the company’s co-founders.”
To read the whole article, Israeli Tech Scene Endures During War, go to the website of the Wall Street Journal.
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