Amdocs: In a global company with 20,000 employees - changes in the workforce are a routine matter.
Industry sources believe that Amdocs Ltd. (NYSE: DOX) is firing scores of Israeli employees as it pursues streamlining and cost-cutting measures.
Amdocs said in response, "In a global company with 20,000 employees, changes in the workforce on the basis of business needs and mobility between the company's dozens of sites around the world are a routine matter. There is nothing unusual in adjustments of this kind from the company's routine business conduct in Israel and the world."
Two weeks ago, "Globes" revealed that Australian mobile carrier Telstra Corporation (ASX; NZX: TLS), an Amdocs customer since 2006, notified the company that it would cease receiving support services. Sources estimated the contract at tens of millions of dollars over several years, and Amdocs will reportedly take a financial hit of several million dollars.
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013