Internet infrastructure platform developer
is laying off 25% of its staff, TheMarker.com has learned.
ClearForest is cutting 20 people from all its departments. It explained that it needs to cut costs in order to weather the coming two years with its cash in hand. Meanwhile, it says it has established a support system for the axed workers, headed by Human Resources VP Sigal Srur. Her supports starts from the emotional to finding alternative jobs. To this end ClearForest has hired organizational consultants specializing in consultancy services for job-seekers.
Next week the company will hold a workshop for the fired workers, advising them on writing resumes, establishing contacts with placement companies and finding work slowdowns.
Srur said that the workers took their dismissal well, and that most of them have said they will seek help via the support system.
ClearForest's technology assimilates textual data of any size and structure, extracts key terms, and assigns them to categories. Users can obtain cross-sections as required, facilitating their handling of major volumes of text using visual tools.
The company was founded in 1997 by President and Chief Scientist Ronen Feldman and CTO Yonatan Aumann. It changerd its name from Instinct Software to ClearForest in early 2000.
Its customers include
(NYSE:F), Dow Chemicals (NYSE:DOW) and
In March DB eVentures, an arm of
, led a $12 million placement. It contrbuted $4 million. Pre-existing shareholders
also chipped in.