ECI Telecom Ltd. is firing 100 more employees in Israel and other countries in a new wave of layoffs.
In a letter, ECI CEO Rafi Maor said that the layoffs were "part of the company's strategic plan." He said that the layoffs were one of several measures to support new products, "which are expected to greatly boost the size of our target markets."
Maor said that, beginning on December 1, most of the company's offices worldwide would close for one day each month, and that this would be unpaid leave for employees.
ECI said in response, "As part of its strategic plan, the company intends to change its employees mix at various locations so that by the end of 2011, the company will have 70 more employees than today. ECI will continue to focus on all the projects it is currently working on, as well as on new projects in all areas of its business."
The new round of layoffs comes against a backdrop of bitter competition and technology changes in the telecommunications industry, to which the company is trying to adapt.
Earlier this month, ECI chairman Shaul Shani offered Russian President Dmitri Medvedev to sell the company to a Russian government company for $2.5 billion, double what Shani paid for it in late 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on November 23, 2010
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