The layoffs amount to 11% of the company's workforce.
Cosmetic laser equipment maker Lumenis Ltd. is firing an additional 100 employees worldwide, 11% of its workforce. 40 of the layoffs are in Israel.
Lumenis CEO Dov Ofer said that the company was preparing for the economic situation. He said that as a manufacturer of expensive capital equipment used for elective surgery, which is not covered by patients' insurance, the company expects to be more affected by the crisis than other medical device manufacturers. "The change has come just as we hired staff on the assumption of rapid growth, which have turned out to be too optimistic in view of the economic crisis, which no one could have predicted," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2008
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