Rad Data Communications to fire 100

The remaining employees will face a pay cut.

RAD Data Communications Ltd., controlled by chairman Zohar Zisapel and his brother Yehuda Zisapel, has notified its Israeli employees that it intends to fire 100 of them, 9% of the company workforce. The remaining employees will face a pay cut. Rad Data has 1,000 employees worldwide, 900 of them in Israel.

RAD Data Communications president and CEO Effi Wachtel told employees, "The company's obligations and future leave us no choice." He added, "The erosion in our profit margins that began in 2008 with the appreciation of the shekel, continued and worsened when we were hit with the economic crisis, whose end we cannot see. For a long time we tried to avoid layoffs. We are trying to minimize the harm to employees and carry it out as humanely and sensitively as possible, and with dignity of all employees."

Published by Globes [online], Israel business news - www.globes-online.com - on May 26, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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