Israeli fintech firm Nayax has announced the layoff of 70 employees, with 55 based in Israel. This marks the company’s first major round of layoffs.

Nayax operates in 11 locations worldwide with 1,100 employees, about half of them in Israel.

The job cuts follow recent acquisitions that created role redundancies.

The company said the move aims to streamline operations and manage expenses more efficiently.

Despite the layoffs, Nayax’s share price has surged 60% on the Tel Aviv Stock Exchange since the beginning of the year.

The company reported 2024 revenues of 1.1 billion shekels (US$328 million), up from 850 million shekels (US$254 million) in 2023.

Its annual net loss also shrank to 20.5 million shekels (US$6.1 million), from 58 million shekels (US$17.3 million) the previous year.

Founded in 2005, Nayax provides digital payment and management solutions for self-service points of sale.

🔗 Source: Calcalist

🧠 Food for thought

1️⃣ Nayax’s layoffs reflect post-acquisition integration rather than financial distress

Unlike many tech companies cutting jobs due to financial pressures, Nayax is laying off employees from a position of relative financial strength.

The company’s statement explicitly cites “overlaps in certain roles” following multiple acquisitions as the primary reason for the staff reduction 1.

This pattern of post-acquisition streamlining is evident in Nayax’s aggressive expansion strategy, with five acquisitions since 2021 including UPPay (February 2025), VMtechnologia (May 2024), and Roseman (April 2024) 1.

Despite the layoffs, Nayax’s financial trajectory remains positive with revenue growing 29% year-over-year to $328 million in 2024, while net losses narrowed by 65% to $6.1 million.

The company’s stock has outperformed the broader market with a 60% increase since the beginning of the year, compared to the Tel Aviv 125 index’s 28% rise.