Verily, Google’s data and health company, is shutting down its operations in Israel after three years of running research and development centers in Haifa and Tel Aviv. The closure is part of a larger effort to refocus on core products and projects. The decision has been attributed to the company’s strategy to optimize overall operations, rather than external factors such as the recent conflict between Israel and Gaza.
Despite the closure, Verily has plans to continue its innovative work, particularly in the application of artificial intelligence techniques to biomedical problems. The company has been a prominent player in the health technology sector, having raised significant financing and aiming to potentially go public as an independent entity.
Verily’s cost-cutting measures have been ongoing for more than a year, with rounds of layoffs following revenue projections. Alphabet, Verily’s parent company, has also made broad cuts in its workforce, laying off thousands of employees in recent years.
Overall, the decision to close the Israel R&D centers is part of Verily’s broader plan to streamline operations and focus on core objectives. The current team in Israel is expected to leave the company by the end of the third quarter of 2024, with the company intending to continue its critical work at its US-based facilities.
In conclusion, Verily’s closure of its Israel operations marks a strategic shift in the company’s focus, as it aims to align its resources with core products and projects. Despite the closure, the company remains committed to advancing innovation in health technology, particularly in the realm of artificial intelligence and biomedical research, at its US-based facilities.
Article Source
https://amp.theguardian.com/technology/article/2024/jun/28/google-verily-leave-israel
