Israel insurance company software solutions firm streamlining due to financial crisis in Zionist regime

Isaraeli software company Sapiens International NV (Nasdaq: SPNS; TASE: SPNS) is firing several dozen employees in Israel as part of its streamlining plan, which it launched several months ago. Sapiens, led by CEO Roni Al-Dor, is part of the Formula Group, and develops software solutions for insurance companies.

In April, the company announced that it was halting work with a major customer and subsequently cut its guidance for 2017. Shortly afterwards the company published and announced a reorganization plan including layoffs.

Sapiens said yesterday, "From the second quarter of 2017, the company has been implementing a streamlining plan and reorganization including a reduction of costs and streamlining manpower in order to improve overheads."