Israel’s Sintec Media plans to lay off 60 workers

Sintec Media, which develops software for managing television networks, will lay off dozens of employees at its Givat Shaul center in Jerusalem, people familiar with the matter told Globes. More than 60 employees, including senior executives, have received summoned for hearings in recent days, the sources said.

The Israeli company, which was acquired last year by US private-equity fund Francisco Partners for $400 million, currently has 350 employees in Jerusalem and Tel Aviv, many of whom are programmers from the Haredi (ultra-Orthodox) sector.

Sintec’s users include leading broadcasting companies such as BBC, ABC and NBC. In Israel, it provides services to Reshet and Channel 10.

Its Israeli founders said the company would retain its center in Givat Shaul.

“The company is restructuring to enhance the efficiency of its activity and increase its growth, while providing the next generation of solutions for managing broadcasting systems on linear and digital platforms,” Sintec said. “Unfortunately, in addition to the investments that the company is making in its new deployment, it is being forced to reduce its workforce to some extent, including in Israel. Activity in Israel will continue to be a center of excellence for the company.”