Sources inform “Globes” that digital animation company Digital Production Solutions Israel (DPSi), a subsidiary of Digital Production Solutions (DPS) of the US, is about to slash its activity in Israel. DPSi has 160 employees at the Hartuv A industrial park adjacent to Beit Shemesh.
Beit Shemesh municipality spokesman Yehuda Gur Arie said DPSI representatives had already notified the municipality personnel department that the company would lay off 100 employees, including 15 Beit Shemesh residents.
DPSi told the Beit Shemesh municipality that cutbacks were because DPS had stopping giving work to DPSi. DPSi CEO Moshe Berger is presently in the US. DPSi stated it could not comment on the matter, and no other statement has been received from the company.
DPS is a subsidiary of IDT Corporation (NYSE:IDT), one of the ten largest communications companies in the world, and included in the "Forbes" list of the world's 1,000 top companies.
IDT also founded Net2Phone (NASDAQ:NTOP). DPS acquired US company Film Roman, the producer of hit movies such as X-Men, and The Simpsons animated television show. DPS has three offices: New Jersey (DPS); Hollywood (DPS/Film Roman); and Israel (DPSi).
Sources also inform “Globes” that DPSi has received two NIS 1 million approvals from the Investment Promotion Center for investment plans under the alternative track of exemption from the companies tax for 2003-04.
In the wake of the lay-offs, the Investment Promotion Center will consider revoking the approvals.
DSPi has not yet officially notified the Investment Promotion Center about developments at the company.
Published by Globes [online] - www.globes.co.il - on November 24, 2004