Tower Semiconductors (Nasdaq:TSEM) plans to terminate 200 of its 1,200 positions, Yedioth Ahronoth reports.
The company is building a new fab at Migdak Haemek, at an investment topping $1 billion. The foundry has been dubbed Fab 2.
The state agreed to provide $250 million of the sum for Fab 2, contingent on Tower creating 1,000 jobs.
Cutbacks at the company could induce the state to reduce its grant.