Soloto, the company thanks to which former Prime Minister Naftali Bennett made an exit after serving as CEO, is closing down.
The Ashurion company acquired the Soloto company almost a decade ago and is now announcing global internal reorganization processes, which include a reduction in personnel and changes in the company's business focus and growth goals.
As a result, 120 Soloto employees will be fired and they will receive extended retirement benefits, according to the company, above the industry standard.
This is in order to provide them with a safety net and support for the coming months.
About 40 employees will continue to work in the company until the end of the year, for the benefit of the critical technology developed in Tel Aviv.
Over the past nine years, since it was acquired by Ashurion, Soloto has served as a technological development center for the parent company in the United States.
The team in Israel led the development of new applications and products.
Mashurion stated: "The company made the difficult decision to close the Israeli site, as a result of downsizing processes that are taking place throughout the company, after deciding to focus on its current growth goals in the cellular market, repairing home appliances and in stores. This decision does not allow the continued employment of Soloto's talented talents and the continued The development of the innovative technological capabilities that the site has in Tel Aviv.
"120 Soloto employees will receive extended retirement benefits above the standard used in the industry, in order to provide them with a safety net and support for the coming months. About 40 employees will continue to work at the company until the end of the year, for the benefit of the critical technology developed in Tel Aviv. All company employees will receive support and assistance from A dedicated professional team of the human resources department on behalf of the company, in order to help them find a new job."
Soloto was founded in 2008 by Tomer Dvir Vichy Green with the aim of helping people enjoy more the technology in their hands and in their environment, and developed advanced technological products to manage, identify and support technical problems remotely.
After a series of successful products, Soloto was acquired by the American company Ashurion, which currently serves about 300 million users worldwide, in cooperation with the largest mobile operators and retailers in the world.
Ashurion helps users learn about the devices they have and use their capabilities, solve technical problems and allows convenient and easy access to technological experts, along with providing automatic tools, information and personal recommendations.
"The decision to close the offices in Tel Aviv and say goodbye to the team that has contributed greatly to the long-term success of our company is not an easy one," said John Leonard, vice president of Ashurion, "the team in Soluto has been an important part of our growth and our success since the company was acquired in 2013." said.
The CEO of Soluto, Merav Oren, said: "It is with great regret that we had to inform all the staff working with us at Soluto today of Ashurion's decision to close the Israeli development center.
These are people who believe in the company and the product and together gave their hearts and abilities every day to create the best product for our users.
Over the years, we have brought together the best professionals in their fields in Soluto, who are the cutting edge 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 and every one find an excellent workplace that will benefit from their abilities and skills."
Tomer Dvir, one of the founders of Soloto, said: "I was very saddened by the decision. We established a professional team with a unique culture that for 14 years created, influenced the local industry, Ashurion and hundreds of millions of customers all over the world. Despite the pain, I know that the team members will take the talent with them, The unique culture and approach to the lucky companies in which they will continue their journey."
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