Compete, the Israel-born HR Tech company which provides real-time market data for HR Teams, CFOs and Venture Capital Funds in tech have announced to let go 90% of its workforce.
The company communicated this information to its employees early Friday in a 1:1 meeting over zoom – Compete has most of its Engineering team based out of Tel-Aviv, Israel and we understand that the layoffs seem to have impacted both Engineering and the Sales team that is majorly located in the United States.
Many of the impacted employees have taken to share their stories on the Social professional network LinkedIn, mentioning their disbelief and critiquing the CEO/Founders who haven’t let out an official statement yet.
One specific employee who was impacted goes on to mention that the severance information hasn’t been communicated yet on top of cutting their pay in half and withholding most of their commissions.
Hear it first-hand from impacted employees on LinkedIn