Amdocs switches to four-day work week

Amdocs has fired hundreds of employees in Israel and overseas in recent months.

Amdocs Ltd. (NYSE: DOX) has notified its employees in Israel that they should use their vacation days on Sundays during March. The company added that salaries would not be affected by the measure, including the salaries of employees with insufficient vacation days.

For now, Amdocs will apply the four-day work week only for one month, but the company's management will presumably consider extending it. The plan will apparently also apply to Amdocs employees in other countries.

Amdocs had 18,535 employees, including 4,314 in Israel, at the end of September 2008. The global crisis has hit the company's business - the supply of billing and customer care solutions for telecommunications and financial companies - and it has fired hundreds of employees in recent months.

Amdocs has not yet published its guidance for the 2009 fiscal year, but analysts predict that revenue will be 9-12% less than in the 2008 fiscal year.

Amdocs's share fell 5.3% yesterday to $16.86.

Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2009

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

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