Lumenis firing 25 in Yokneam
Medical-laser technology company Lumenis is laying off 25 of its 340 employees as it restructures its Yokneam manufacturing facility.
Medical-laser technology company Lumenis is laying off 25 of its 340 employees as it restructures its Yokneam manufacturing facility. The company's staffers are worried that this may not be the last wave of dismissals.
Workers facing the ax are being summoned to hearings with the company's vice-president of human resources, Ruth Shaked, before the decree was final. But the number of layoffs is not expected to change as a result.
The decision to scale down the workforce was reached after an efficiency plan was drawn up a few months ago, with external organizational consultant Aviv Consultants. The plan includes merging departments, restructuring and cancelling some positions, and is being implemented despite Lumenis' fast growth over the past year and a half.
Lumenis CEO Dov Ofer said that the layoffs stem in part from the eroding dollar and the rising price of fuel, which are a burden on high-tech exporters like Lumenis.
"At the moment no other layoffs are planned, but I can make no promises," Ofer said.
Lumenis is the world's largest manufacturer of laser-based equipment for cosmetic treatments. The company employs 930 people in the United States, East Asia, Europe and Israel.
The company's top management was largely replaced following the sale of 75% of its shares in 2006 for $120 million, to the Ofer High-Tech Group and to LM Partners.