VeriFone shuts down hardware center
While dismissing 20 employees, electronic payment solutions giant plans to expand its Israel software development center
Electronic payment solutions giant VeriFone is shutting down its hardware development center in Israel
and sending 20 employees home, Calcalist has learned.
The dismissals are part of the overall reorganization of VeriFone's international hardware development department following the company's acquisition of two major companies, Point and Global Bay, for a total of $1.6 billion.
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"We're downsizing our hardware development center in Israel and planning to significantly boost our software development center, which currently has 100 employees," said VeriFone Israel President Lazy Yanay.
"The wave of dismissals will begin next February and continue to October. Employees who remain with the company will enjoy special bonuses."
Yanay stressed, "We intend to offer the dismissed employees good terms and let them exercise the options they received. Although the dismissed group has a strong profile and I believe will have no problem finding new jobs, we intend on fully supporting and assisting them in any way necessary throughout the entire dismissal process."
He added that the move stemmed from the company's desire to "streamline our research and development center to ensure that each department has the necessary expertise.
"In Israel we conduct extensive software development activity both for the enterprise software and for the new technologies we are developing."
VeriFone Israel has 400 employees in development, support and production operations. The company's worldwide workforce includes some 3,500 employees.
Click here to read this report in Hebrew
VeriFone Israel President Lazy Yanay
Photo: Marco Zilberman
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