ALBAWABA - The nation's biggest private-sector employer, Intel Israel, is laying off thousands of workers for the first time in a decade. Globes reported that Intel's research centers in Haifa, Petah Tikva, and Jerusalem lost 1,000 to 1,400 people due to this staff decrease.
Intel's August global reorganization plan included the layoffs to remove up to 17,000 workers. The greatest layoff wave in Intel Israel's history impacted 15-20% of its 7,000 development professionals.
Intel has suffered a 50% stock price drop and $1.6 billion in quarterly losses this year. Intel Israel's layoffs began after the holidays in October and lasted until December, leaving workers unsure and concerned.
One senior employee, who remained, told Globes, “The lack of transparency was the hardest part. Managers knew about the layoffs a month in advance but couldn't say anything, making it hard for everyone.” He continued, “Employees from various departments and levels have been impacted, leaving gaps across the organization.”
Financial issues have also slashed staff perks, including the automobile leasing program, which was ended in September. Some workers lost 4,000 shekels (roughly $1,070) in monthly salary due to this benefit's termination.
Intel has not commented on the layoffs or the financial issues causing them, but the effect is felt throughout its Israeli locations.
