Logic Industries Ltd., based in Yakum, north of Tel Aviv, will fire 100 of its 850 employees in the coming weeks. The company, which develops IT management security solutions for national resources systems, is run by chairman and CEO (major general, res.) Amos Malka, a former head of the IDF Intelligence Corps (Aman).
Sources inform ''Globes'' that the decision on the layoffs was recently made as part of a restructuring plan to focus on new fields considered to have high global growth potential, including Internet of Things and big data. Sources close to Logic's business told "Globes" that its focus on these fields would result in a thinning of its workforce in "traditional" sectors.
The layoffs will be accompanied by the hiring of employees in the new fields that the company has targeted. Logic's customers are in India, Singapore, northern Europe, and elsewhere, and its executives believe that the new focus will expand the company's global customer base.
Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2013
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