Calcalist: People familiar with matter say US startup will likely fire half of its Tel Avv based team, as part of the reported 1,000 global redundancies

Calling it a 'very difficult decision,' Institute for Jewish Research says archival staff will now help run the library

Company is planning to lay off workers and cut payments to suppliers as part of 'comprehensive restructuring plan' it hopes will allow it to return to profitability by end of 2020

Calcalist: Earlier this year the firm backed out of its planned IPO on the Toronto Stock Exchange after it failed to secure its target valuations

Officials say southern city dealing with 'enormous' development challenges as it expands in bid to become economic hub

Shares on Tel Aviv Stock Exchange plummet; company says it appointed adviser to help it conduct a 'review of strategic alternatives'

Move is part of global reorganization of US tech giant, Calcalist reports; employees come from the startup Ravello, acquired by the US firm in 2016

Firm says it's repositioning team 'to align with the company's focus on the high-value segments of the IT market'

Intel sources confirm that the decision to exit 5G smartphone modem business globally will affect local team as well