Israeli Fintech Fireblocks Lays Off 7% of Workforce in Global Restructuring
Israeli fintech firm Fireblocks is cutting about 70 employees globally, representing 7% of its workforce, amid strategic restructuring. The company previously denied recent rumors of acquisition talks with Visa.
Israeli fintech unicorn Fireblocks is laying off about 70 employees globally, including dozens in Israel, representing roughly 7% of its total workforce. Founded in 2018, Fireblocks develops secure technological infrastructure that enables banks, financial institutions, and crypto-native companies to transfer, store, and manage digital assets.
The company previously conducted smaller layoffs in February 2023, cutting 30 employees, and another round in February 2024 affecting 20 workers. The current restructuring marks the largest workforce reduction in the firm's history.
Fireblocks stated that the difficult decision was part of a structural reorganization aimed at supporting strategic growth and client needs. Affected employees will receive an enhanced severance package and professional transition support.
In 2022, Fireblocks reached a valuation of approximately $8 billion, making it one of Israel's most valuable fintech firms. Rumors recently surfaced regarding talks of a potential acquisition by payment giant Visa for about $2.5 billion, a report that Fireblocks has denied.
