Intel Begins to Lay Off Staff in Israel - Reports

Intel Corp. has started to send layoff notices to some of its employees in Israel, according to local press reports.

Israeli financial newspapers Calcalist, Globes and TheMarker report that the company started sending notices of layoffs to Israeli employees this week, also extending a voluntary retirement compensation plan to other employees.

A company spokesman said Intel wouldn't comment on site-specific action.

Intel in April announced plans to cut 12,000 jobs, or 11% of its global workforce, a consequence of the shrinking personal-computer market and the chip maker's failure to take advantage of the industry's transition to smartphones.

In Israel, Intel has around 10,000 employees and several manufacturing plants, accounting for about 10% of Israel's exports; its research and development activity in the country focuses on personal computer chips and on technologies related to segments Intel is trying to break into, including the development of 3-D sensing camera units and virtual reality technologies, the latter a result of the acquisition of Israeli startup Replay Technologies announced by Intel in March.

Write to Orr Hirschauge at [e-mail]

(END) Dow Jones Newswires

May 03, 2016 08:13 ET (12:13 GMT)

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