Intel Begins to Lay Off Staff in Israel - Reports
May 03 2016 - 08:28AM
Dow Jones News
Intel Corp. has started to send layoff notices to some of its
employees in Israel, according to local press reports.
Israeli financial newspapers Calcalist, Globes and TheMarker
report that the company started sending notices of layoffs to
Israeli employees this week, also extending a voluntary retirement
compensation plan to other employees.
A company spokesman said Intel wouldn't comment on site-specific
action.
Intel in April announced plans to cut 12,000 jobs, or 11% of its
global workforce, a consequence of the shrinking personal-computer
market and the chip maker's failure to take advantage of the
industry's transition to smartphones.
In Israel, Intel has around 10,000 employees and several
manufacturing plants, accounting for about 10% of Israel's exports;
its research and development activity in the country focuses on
personal computer chips and on technologies related to segments
Intel is trying to break into, including the development of 3-D
sensing camera units and virtual reality technologies, the latter a
result of the acquisition of Israeli startup Replay Technologies
announced by Intel in March.
Write to Orr Hirschauge at orr.hirschauge@wsj.com
(END) Dow Jones Newswires
May 03, 2016 08:13 ET (12:13 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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