LivePerson to lay off 30 in Israel

Robert LoCascio

The AI-powered customer messaging company has signed a cooperation agreement with Indian company InfoSys resulting in the layoffs.

Customer AI-powered messaging company LivePerson Inc. (Nasdaq: LPSN); TASE: LPSN) is laying off 30 people in Israel. The company's share price may have risen 50% since the start of the year as companies shift operations into digital channels. But switching to work from home has led to a fall of $24 million in revenue for LivePerson in the third quarter of 2020, while at the same time a cooperation agreement signed with Indian company Infosys had led to the cut in the company's workforce in Israel.

As part of the cooperation agreement with InfoSys, and the closure of some of LivePerson's cloud activities, in addition to the 30 layoffs, another 30 employees will move to InfoSys and 10 employees will move to other positions within LivePerson.

LivePerson current has 350 employees in Israel and despite the downsizing following the InfoSys cooperation agreement, the company is continuing to hire in other areas.

LivePerson said that the cooperation agreement with InfoSys is worth tens of millions of dollars annually and that it will allow the company to speed up growth and provide solutions for the high demand for its products, especially in the era of social distancing.

LivePerson founder and CEO is Robert LoCascio.

Published by Globes, Israel business news - en.globes.co.il - on November 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Robert LoCascio
Robert LoCascio
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