Freescale Semiconductor Inc. (NYSE: FSL) will lay off 18% of its workforce at its Israeli subsidiary after consolidating its R&D activity last week. The company will lay off 100 of the 600 employees at the R&D center in Herzliya, and several of the 60 employees at its R&D center in Omer, while other employees will be transferred to Herzliya.
Freescale confirmed the report. Freescale Israel president and CEO Israel Keshet said, "The company is acting with great sensitivity, and providing emotional and job-seeking support for the employees."
Freescale posted a profit of $515 million on $5.2 billion revenue in 2008. Keshet recently said, "The crisis in the technology market and the difficulties facing the company in 2009 force a restructuring and global changes, including the consolidation of small R&D centers with bigger ones."
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
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