Tipalti, a leading Israeli financial technology company specializing in automated payment and supplier management solutions for medium-sized businesses, is implementing significant layoffs as part of a global restructuring effort. The company is letting go of dozens of employees worldwide, including 40 in Israel, as it shifts its focus toward more advanced sales functions for the mid-market sector and reduces support for smaller, less profitable customers. An internal memo detailed that work groups will be redefined and some employees will be let go as part of this streamlining process. Founded in 2010, Tipalti reached a peak valuation of $8.3 billion in 2021 and has processed transactions worth tens of billions of dollars annually for over 2,000 customers.