Azorim Investment, Development and Construction Ltd. (TASE: AZRM), controlled by chairman Shaya Boymelgreen, has laid off 15 employees at company headquarters. Azorim CEO Mati Dov told "Globes" today that the company had no plans to sell properties in Israel at this time as part of its streamlining measures.
Including previous layoffs, Azorim has now let go 25 employees, a quarter of its workforce. The company has laid off headquarters, project management, marketing, and bookkeeping staff. The savings from the layoffs will only be reflected in Azorim's results for 2010. Together with other streamlining measures, the company hopes to save NIS 25 million in administrative costs next year compared with last year.
