Amdocs announces layoffs 2,000 employees to face job cuts

Amdocs is set to undertake another series of layoffs, targeting an estimated reduction of around 2,000 jobs, which corresponds to roughly 6.5% of the company's total workforce. 

In Israel, the downsizing impact will be slightly less significant, with Amdocs bidding farewell to 200 employees out of the 5,000 currently employed in the country, accounting for a reduction rate of approximately 5%.

The current round of layoffs at Amdocs is more significant compared to the previous one implemented earlier this year. The earlier round resulted in the layoff of approximately 700 employees, accounting for around 3% of the total workforce.

"Amdocs, like other leading global companies, continually assesses the global macroeconomic conditions and takes appropriate measures to ensure sustained growth. As part of this, we periodically initiate efficiency processes while maintaining investments in areas of growth, in line with our strategic plan," Amdocs wrote in a statement, according to a report by CTech. 

Despite the economic downturn, Amdocs, which boasts a workforce of approximately 31,000 employees, has experienced less impact compared to many other high-tech companies. 

The company has consistently presented positive financial reports in recent quarters and has even raised dividends for its shareholders. 

Amdocs shares have also shown a positive return since the start of the year, contributing to the company's current market capitalization of nearly $12 billion.