Redis, the database software company with roots in Israel, is poised to reduce its workforce at its Tel Aviv research and development center by approximately 75 employees. This move will cut the number of its staff in Israel by about 25%. Globally, Redis employs around 1,300 people, with about 300 of those based in Israel.
This workforce reduction is part of a larger strategy by Redis to streamline its operations and cut costs, especially in light of increasing operating expenses in Israel. The company is also adjusting to the rising use of automation and artificial intelligence in the industry, seeking to align its operations with these technological advancements.
Established in 2011 in Tel Aviv, Redis specializes in developing cloud-based database and analytics software that supports real-time data processing. In a significant development earlier this year, the company introduced a new platform with a focus on artificial intelligence, aimed at enhancing the management of business data for AI-driven applications.
Redis has achieved substantial financial growth, recently exceeding $300 million in annual recurring revenue. The company boasts a customer base of over 12,000, including a notable portion of Fortune 100 companies, showcasing its significant impact and reach in the industry.