Thin client hardware and software developer Chip PC Technologies Ltd. (TASE:CPPC) has embarked on another streamlining measure. The company states in its financial report for 2008 that it has decided on a new cutback plan in order to prepare for a worsening of the economic situation.
Chip PC states that it intends to cut expenditures by NIS 700,000 a month through salary reductions and the laying off of about ten employees. The company had about 70 employees at the end of 2008.
This is the second streamlining plan launched by Chip PC in the past year. In October 2008, it made extensive spending cuts, including 10-15 layoffs.
Published by Globes [online], Israel business news - www.globes-online.com - on April 13, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
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