Parallel Wireless set to lay off a quarter of its employees in Israel
Parallel Wireless set to lay off a quarter of its employees in Israel
Around 60 of 250 employees are set to leave the American company, which was founded in 2012 and set up its R&D center in Israel six years later
Parallel Wireless Israel, a subsidiary of American company Parallel Wireless, is laying off 60 employees. The company, which employs 250 people at its Kfar Saba offices, develops software platforms for wireless networks. Calcalist has learned that the company halted all its recruitment across the world once the magnitude of the crisis became clear and began reassessing its options.
Parallel Wireless was founded in 2012 and set up its R&D center in Israel six years later. The Israel center is one of the company’s most significant, with the local team recently moving into new offices in Kfar Saba at an investment of NIS 40 million (approximately $11.5 million).
The company announced earlier this year that it intended to expand its Israel headquarters and recruit an additional 100 employees.
Parallel Wireless’s ALL G (2G, 3G, 4G, 5G) O-RAN compliant software platform has been deployed with global Mobile Network Operators from across six continents and forms an open, secure, and intelligent RAN architecture to deliver wireless connectivity.
Parallel Wireless said in response: “Due to the situation in global markets and their effect on the business activity, Parallel Wireless has been forced to make a number of adjustments in order to secure the future of the company and its employees. Following an in-depth analysis, Parallel Wireless decided on several courses of action, including the possibility of parting with several members of the staff.
“Parallel Wireless is doing the utmost to make it easier on the employees affected by this process. This includes investment in counselling and support and an attempt to find alternatives for employees we are forced to part ways with. In our view, the company’s moves at this time will secure the company’s future both from an economic and business aspect and we are expecting to increase our success in the global cellular market.”
