Kaltura laying off 10% of workforce

Israeli video cloud platform Kaltura (Nasdaq: KLTR) has announced that it is laying off 10% of its workforce in its second quarter 2022 financial results. At the end of 2021, the company had 758 employees. Kaltura is in the midst of thwarting a hostile takeover bid from US rival Panopto.

Kaltura cofounder, chairman and CEO Ron Yekutiel said, "Given the macroeconomic outlook we are implementing a cost-reduction and re-organization plan that includes, among other things, downsizing approximately 10% of our employee base. Our re-organization plan is heavily focused on realigning our operations to further increase efficiency and productivity. We believe this necessary action will accelerate our return to the profitable growth that we achieved in previous years."

*Source: https://en.globes.co.il/en/article-kaltura-laying-off-10-of-workforce-1001420938