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Better Place firing another 150-200

Before the layoffs began, which included recent cuts of 140, the electric car venture had 400 employees in Israel.

The wave of layoffs at electric car venture Better Place Inc. is continuing. The company will fire another 150-200 employees after the recent layoff of 140 employees. Before the layoffs began, Better Place had 400 employees in Israel.

Better Place’s newly appointed CEO Evan Thornley is leading the reorganization process and substantial cuts in expenses. Most of the employees being fired are in development, software and information control but some of the layoffs are among management.

Better Place is undergoing a huge shakeup following the ousting of founder and CEO Shai Agassi and the departure of Better Place Israel CEO Moshe Kaplinsky and several senior VPs.

Last month Israel Corporation (TASE: ILCO) injected an additional $33 million into the electric car venture as part of an additional $100 million financing round of which Israel Corp. will contribute $67 million.


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