Global uncertainty in the fields of technology continues to hurt the Israeli ecosystem, and this time it hit Soluto – the Israeli development center of the American company Asurion. 9 years ago, Asurion acquired the Israeli startup, and today (Sunday) they announced it will be closing its doors in Israel by the end of the year.

40 employees will remain until the end of 2022

According to the announcement, Asurion, the parent company that purchased the Israeli startup which was founded by Yishai Green and Tomer Dvir has decided to reorganize and close the Israeli development center which employs 120 people.

Just recently, the company's management informed the employees of the move; approximately 80 of them will be fired now, and 40 employees will continue to work until the end of the year to transfer the necessary knowledge to Asurion’s employees in the U.S. According to the company's announcement, all 120 employees will receive generous retirement bonuses following the layoffs.

Asurion announced that the move is a result of a company-wide downsize, as it has decided to focus on its current growth goals in the cellular market with home appliance repair and store operations. "This decision meant we had to let go of Soluto’s talented people and with it the innovative technological capabilities that the site has in Tel Aviv," the company explained.

Soluto was founded in 2008 by Tomer Dvir and Ishay Green and was purchased by Asurion in 2013 after a series of successful product launches and winning the TechCrunch disrupt. Soluto’s CEO, Merav Oren, said: "It is with great regret that we had to inform all the staff members working with us today at Soluto of Asurion’s decision to close the Israeli development center. These are people who believe in the company and the product, and together they gave their hearts and abilities every day to create the best product for our users. Over the years, we have gathered the best professionals in their field, who are at the forefront of the technology industry in Israel, and we have maintained a one-of-a-kind culture. For me personally, this is a particularly difficult moment. We are committed to making every effort to support and help each of our employees find an excellent workplace that will benefit from their abilities and skills."