Israeli digital insurance company Lemonade (NYSE: LMND) is to lay off 3% of its workforce worldwide. At the end of 2022, Lemonade had 1,367 employees including 300 in Israel, so about 40 employees can be expected to leave. Lemonade deals with home insurance for tenants, vehicle insurance, life insurance and pet insurance in the US. At the same time the company is hiring for certain positions so that ultimately there wqill be no major change in the size of its workforce. RELATED ARTICLES Lemonade leaps after Q1 financials Lemonade buys Metromile at 70% below original valuation Israeli digital insurance co Lemonade launches in UK Lemonade said, "Lemonade has always maintained a goal-based culture of high performance and as we accelerate on our path to profitability, we remain committed to this standard of excellence, while being mindful of our overall headcount growth and other expenses. This means we'll continue to hire to reach our ambitious goals and reach profitability but also part ways with some roles that are redundant, and also with some underperformers. These decisions are never easy but we believe maintaining this standard of excellence will strengthen our business for the long run." Published by Globes, Israel business news - en.globes.co.il - on May 16, 2023. © Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
