The Hadera-based tire firm has fired dozens of employees.
The global financial crisis has been a major blow for Alliance Tire Company Ltd., one of Israel's flagship industrial companies since the 1950s. Sources inform "Globes" that the company has this week fired dozens of temporary workers and intends laying off a considerable number of veteran employees, following a sharp fall in orders. The matter of firing veteran employees was discussed today with representatives of the Histadrut in the Hadera region, but the sides have not yet reached agreement.
Alliance president Joseph Anglister claims that the crisis has hit the company after a period of impressive growth. "If you had contacted me a month ago, I would have told you that we are a prosperous company and that I was very optimistic," he told "Globes." According to Anglister the crisis has brought a sharp fall in orders for the company's products, mainly from Europe. "We need to reduce work lines and reduce our number of workers in order to adapt ourselves to the international situation," Anglister explained.
Published by Globes [online], Israel business news - www.globes-online.com - on November 4, 2008
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