ECI Telecom Ltd. is firing 150 more Israeli employees as part of another round of worldwide cutbacks. In May, it fired 100 employees in Israel.
ECI currently has 2,800 employees, including 1,500 in Israel.
After the previous round of layoffs, ECI CEO Rafi Maor said, "The global communications market is undergoing a dramatic change and is influenced by the current global economic situation, and the aggressive entry of giant Chinese companies that have created a new level of low prices in the industry and as a direct result a model of business activities with low profitability."
The layoffs at ECI follow a string of firings at high-tech companies, including Orbotech Ltd. (Nasdaq: ORBK), Better Place Inc., Freescale Semiconductors Israel Ltd., Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT), and mobile carrier Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR).
Published by Globes [online], Israel business news - www.globes-online.com - on October 31, 2012
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