Israel's high tech industry had a hard last week, as three of the nation's biggest technology companies - semiconductors company Saifun, software house Amdocs and Intel Israel, announced budget cuts and layoffs.
In another sign of the economic crisis bearing down, Intel Israel, which has the biggest workforce in the local technology sector at 6,470 employees, is reducing the bonuses it plans to pay for 2008. It is also laying off maintenance and construction personnel.
Intel Israel is also considering more extreme measures, such as a move to a four-day work week, if the crisis continues. Advertisement Meanwhile, Amdocs, which makes billing and customer service software for telecom companies, announced yesterday that its workers will work a four-day week in March. Its Israeli employees will take Sundays off in the pilot program, which may get extended.
Three months ago, the company announced the closure of its development center in Jerusalem and firing of 200 employees in Israel and 500 workers worldwide. Amdocs workers said that dozens have been laid off from all of the firm's departments, in addition to the Jerusalem center.