Elbit Systems said planning Elisra-Spectralink merger: Elisra employees: Elbit System plans to fire 300 workers under the plan.

From: Globes | Date: October 29, 2006 | Copyright information

Byline: Shay Niv

Oct. 29--Employees of Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) subsidiary Elisra Group claim that Elbit Systems president and CEO Joseph Ackerman is planning to restructure the unit. They also allege that he is threatening to close it down, unless they agree to the restructuring.

Elbit Systems acquired Elisra, which develops and manufactures electronic warfare systems, less than a year ago for $70 million.

Elisra employees claim that the planned merger between Bnei Brak-based Elisra and Holon-based subsidiary, Tadiran Spectralink Ltd., involves ...

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