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IDE plans 50 layoffs in Israel
Israeli desalination specialist, IDE Technologies, is planning to lay off 50 of its employees as the domestic desalination market tightens.
The company, which currently has a total of 550 employees, of which 450 are based in Israel, was facing its first staff cutback in recent years. It said that with the delivery of the desalination plants in Israel at Ashkelon, Hadera, and Soreq it would be reducing manpower involved directly with the local projects. It said it would now focus on the international desalination market and new activities.
IIt is understood the company was facing a harder business environment as a result of the Israeli government's bid to diversify ownership of its desalination portfolio.
IDE, which is jointly owned by Israel Chemicals and the Delek Group, reported a net profit of US$ 7 million in the first half of 2014 - a 75% increase over the corresponding period in 2013.
[Ãâó = Desalination & Water Reuse / 2014³â 10¿ù 26ÀÏ]
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