Corning closes Israel development center

American optical communications and glass and ceramics technology company Corning said it will close its development center in Israel within the next month. Corning is the third US company to close its development center in Israel over the past few weeks, after Dropbox and EA. Corning did not say how many employees will lose their jobs with the closure of the airport’s Optical Wireless Communications Development Center, but according to LinkedIn, Corning Israel has more than 70 employees in the materials and communications sector.

Corning Israel builds on the 2011 acquisition of Israeli startup MobileAccess, which develops wireless communication infrastructures for buildings and university campuses, which was founded in 1998 and has undergone various strategic changes. MobileAccess was originally called Foxcom and was a subsidiary of OnePath, which raised $60 million and nearly closed in 2002, but Foxcom then changed direction, focusing on the US market and outsourcing its production activities.

Corning confirmed to Globes that he was closing his operations in Israel, but declined to give reasons for that. The company said, “In order to adjust the structure of the company’s expenses and revenues, we have implemented several changes, including closing the Israeli center.

“We put a lot of effort into examining other alternatives, and when that didn’t work, we did our best to act according to the company’s values ​​and to help employees with compensation, support packages, and help finding new jobs. Corning will continue to sell its products as usual in Israel, and products developed in Israel will continue to be on the market In a different way “.

Published by Globes, Israel business news – en.globes.co.il – on May 3, 2023.

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