Friday, May 20, 2016 : PLAYTECH CUTS ISRAELI MARKETING HEADCOUNT
Marketing subsidiary Xwise lays off 75 percent of its staff.
The Israeli business publication Globes reported Wednesday that Playtech's Israel-based marketing subsidiary Xwise has embarked on a restructuring initiative that will see its headcount reduced by 75 percent to around 60 employees.
Responding to an enquiry by Globes, Playtech described the job cuts as “…a process of reorganization in all the countries in which the company operates” and noted that there had been no changes at Xwise since it was acquired as part of PTTS in 2011.
The company also revealed that it was giving enhanced exit benefits to those affected by the cuts.
InfoPowa readers will recall that earlier this year Playtech subsidiary TradeFX conducted around 100 lay-offs at its Bulgarian and Israeli businesses.