IDE plans layoffs as it switches focus overseas

Israeli desalination company, IDE Technologies, plans layoffs in its domestic operations and a greater focus on international markets.

The company said it was cutting back its domestic workforce following its completion, in Israel, of the giant seawater reverse osmosis plants at Ashkelon, Hadera, and Soreq. Meanwhile it has recently opened new offices at Sydney and Brisbane in Australia. And it has announced a partnership with water treatment company Fair Canada Engineering in the oil sands market.

IDE is understood to planning to lay off 50 of its 450 staff in Israel.

The company this year reported a 75% year-on-year hike in half year net profits at US$ 7 million.

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