More than 100 jobs cut. This is a brutal decision, especially after a year marked by an increase in sales. Landa Digital Printing, the group founded by Benny Landa, is cutting its workforce by a fifth.
+ 30% more presses installed by 2024
According to the Israeli financial newspaper Globes the nanographic press manufacturer with around 500 employees "is currently being reorganized to adapt its structure to the current economic situation" . In a press release received by various media outlets, it states that this situation is due to "market environment, cautious customers due to geopolitical and economic uncertainties, the ongoing war in Israel and other business challenges."
Landa, who remains tight-lipped about sales figures, adds that in 2024, the year of Drupa, the Group will see a 30% increase in the number of presses installed, particularly in the United States, with new orders from companies such as Marketing Alliance Group and Advantage ColorGraphics.
Whereas "the company's potential is very clear, it now requires greater investment than initially planned", Landa has to reduce its workforce at the same time, "the company is in discussion with potential strategic investors".
A combination of crises for the Landa Group
This social plan is not an isolated case for the other companies founded or supported by Benny Landa. Globes cite l he sale of Lusix, a company specializing in synthetic diamonds, which has been overtaken by Indian competitors, and Gencell, listed on the Tel-Aviv stock exchange, which develops hydrogen-based fuel cell solutions and has reduced its workforce. And in graphic arts, we have manufacturer of digital cutting systems Highcon Systems which is being liquidated with $60 million in debts.
