Tech giants seek government relief from strong shekel pressure
Representatives of global technology companies operating development centers in Israel are seeking government measures to offset the impact of the strong shekel, which has increased the dollar cost of employing Israeli tech workers.
Industry representatives warned that Israel risks crossing a critical cost threshold in which local tech employees become more expensive than comparable workers in Silicon Valley. The concern is that sustained currency strength could make Israeli R&D operations less competitive within global corporate budgeting processes.
The discussions come as multinational technology companies continue to play a central role in Israel’s innovation ecosystem, both as major employers and as buyers of local startups and technologies.
Read more in Globes.
