Billing and customer relationship managements software developer Amdocs Ltd. (NYSE: DOX) is compelling its Israeli employees to use around eight vacation days over upcoming holidays, and to use an additional 2.2 vacation days by year-end on dates of the employees' choosing. Employees were notified by e-mail of the measure, which is aimed at using up employees' vacation day quotas, so that they don’t build up by year-end.
The measure is part of Amdocs' efforts to cut costs due to the economic crisis. The company chose the upcoming holidays - Passover, Independence Day, and Shavu'ot, as well as the last week in August - as organized vacation days.
Amdocs has been operating a four-day workweek in March, and management instructed employees to use their vacation days every Sunday during the month. At this point, the company appears set to return to a regular workweek during April.
Amdocs has 17,000 employees worldwide, including 4,000 in Israel at offices in Ra'anana, Haifa, Hod Hasharon, and Sderot. The company has fired hundreds of employees in recent months, including employees in Israel.
After several years of growth, the company's guidance for fiscal year 2009 assumes a 9-12% drop in revenue compared with fiscal year 2008. The share rose 2.1% yesterday to $17.33.
Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2009
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