In a regulatory filing, Israeli quartz countertop manufacturer Caesarstone (NASDAQ:CSTE) has announced that it is reducing its workforce by 10%.
More than 200 employees will be leaving the company including some who have been dismissed and others departing of their own volition.
Caesarstone said, “As we announced recently, the company has begun implementing streamlining procedures that include a series of measures. One of these measures is a reduction of about 10% in our workforce worldwide, a small part of them in Israel, and the main part in the company’s plants around the world. In addition, we are also making operational efficiency moves, price increases, focusing on growth engines and more.”