BREAKING NEWS

Liquidators fire 2/3 of Better Place workers

MAY 30, 2013 12:42

The liquidators in charge of winding down Better Place, the electric car manufacturer that filed for bankruptcy earlier in the week, will let go of 2/3 of the workforce on Thursday.

Sigal Rozen Rechav, charged with liquidating the company, told the Knesset Economics Committee on Thursday that of 209 workers to be let go, 160-170 employees would receive notice that day, leaving the company with 111 workers. While all the employees will receive salaries for May, Rozen Rechav said further layoffs could be expected before the liquidation is complete.

Rozen Rechav also said that in the first phase of liquidation, which will run through June 13, the 38 battery swapping stations would continue to operate for car owners, though the question of how many of the stations will continue to operate after that date and for how long remained unresolved.

“With the current number of customers, there is no model that can cover the costs,” she said. Of the 900 Better Place customers in Israel, 200 of them were company employees.

Pro-Palestinian students swarm UK MP Jacob Rees-Mogg

By JERUSALEM POST STAFF

04/27/2024 01:51 PM

Loud explosion heard in rural area east of Daraa in Syria - report

By MAARIV

04/27/2024 01:39 PM

Abbas, international leaders to hold Gaza talks in Riyadh this week

By REUTERS

04/27/2024 12:45 PM

Kremlin says Moscow and Beijing ties to continue

By REUTERS

04/27/2024 12:34 PM