Israeli WiMAX manufacturer, Alvarion is reported to be planning to cut 120-150 jobs later this week, out of a total workforce of 887. Local newspaper, Globes updated prior reports that the company was seeking to cut just 30 jobs.
Although job cuts have been expected as part of ongoing cost cutting measures, the scale of the cuts - affecting around a fifth of the workforce - have raised concerns about the company's financial status. The company is due to publish its financial reports tomorrow (Tuesday) and report a drop of around 20% in its revenues.
Leader Capital Markets analyst Eran Jacoby told Globes that he attributes the layoffs at Alvarion to its new CEO, who is cleaning house at the firm. They could also be part of the company's efforts to again become profitable, and not merely to improve revenue.
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